Suncor CEO touts Canadian refining capacity as way to weather tariffs

Suncor main enforcement Rich Kruger says that portion each Canadian businesses volition consciousness a deed from tariffs, his institution is reasonably well-positioned to bounds the impact.

He says the company’s ample Canadian refining footprint and higher capableness than peers to export crude from the seashore makes it little exposed to tariffs compared with immoderate companies much reliant connected shipping unrefined dense crude southbound of the border.

Kruger says that portion helium thinks the U.S. needs Suncor conscionable arsenic it needs the U.S. market, the company’s integrated plus basal gives it a earthy hedge to tariff impacts.

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His comments connected an net telephone came arsenic Suncor reported a nett of $818 cardinal successful the 4th fourth of 2024, down from $2.82 cardinal a twelvemonth earlier.

Adjusted operating net were $1.57 billion, down from $1.64 cardinal a twelvemonth earlier.

Desjardins expert Chris MacCulloch said successful a enactment that net bushed expectations adjacent though the institution had pre-released astir cardinal operational metrics successful January.

He says Suncor looks to beryllium a harmless harbour successful the lawsuit of a North American vigor commercialized warfare fixed it refines astir fractional of firm accumulation wrong Canada.