Suncor earns $818M in 4th quarter, upstream production rises

Suncor Energy Inc. says it earned $818 cardinal successful the 4th fourth of 2024, down from $2.82 cardinal a twelvemonth earlier, arsenic it saw upstream accumulation rise.

The Calgary-based lipid elephantine says the net worked retired to 65 cents per communal share, down from $2.18 during the aforesaid 4th past year.

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

Suncor says the little adjusted operating net were chiefly owed to little refined merchandise realizations, accrued royalties owed to higher dense crude terms realizations, and different factors.

Suncor says its upstream accumulation for the 4th totalled astir 875,000 barrels of lipid equivalent per day, up from astir 808,100 barrels per time successful the anterior year’s quarter.

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The institution says its refinery crude throughput accrued to 486,200 barrels per time and its refinery utilization was 104 per cent, compared with 455,900 barrels per time and 98 per cent a twelvemonth earlier.