Suncor Energy Inc. T.SU

Alternate Symbol(s): SU

Energy Oil & Gas Integrated

Suncor Energy Inc. is a Canada-based integrated energy company. The Company's segments include Oil Sands, Exploration and Production (E&P), and Refining and Marketing. Its operations include oil sands development, production and upgrading, offshore oil and gas production, petroleum refining in Canada and the United States and its Petro-Canada retail and wholesale distribution networks, including Canada’s Electric Highway, a coast-to-coast network of fast-charging electric vehicles (EV) stations. Petro-Canada has a network of over 1,800 retail and wholesale locations across Canada, providing customers with a wide variety of fuel and service offerings including low-carbon fuel options. It is developing petroleum resources while advancing the transition to a low-emissions future through investment in power and renewable fuels. It also wholly owns the Fort Hills Project, which is located in Alberta's Athabasca region, approximately 90 kilometers north of Fort McMurray.

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Suncor Energy Inc. > The Suncor oil price disconnect these days

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Comment by mrbbon Jan 14, 2022 7:08pm

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Post# 34319336

RE:RE:RE:RE:The Suncor oil price disconnect these days

I still think institutions still have SU to lighten up or unload as they jumped onto ESG bandwagon.

This could be a real possibility since we don’t expect them to put much cash flow back into the ground, beyond maintenance capex, given the market’s appetite is moving over to those waving the environmental, social and corporate governance (ESG) banner.

Making it even more difficult is that capital is highly restrictive at the moment, because financial institutions are under a lot of pressure to no longer provide financing to the sector.

Don’t expect much help from our federal government. Prime Minister Justin Trudeau wrote a mandate letter in December to Environment Minister Steven Guilbeault instructing him “to accelerate our G20 commitment to eliminate fossil fuel subsidies from 2025 to 2023, and develop a plan to phase out public financing of the fossil fuel sector, including by federal Crown corporations.”

choose your horses