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Bullboard - Stock Discussion Forum Suncor Energy Inc T.SU

Alternate Symbol(s):  SU

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... see more

TSX:SU - Post Discussion

Suncor Energy Inc > Update on the fire
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Post by lifeisgood1010 on Jul 05, 2024 11:27am

Update on the fire

As of Thursday afternoon, a wildfire spanning more than 21 square kilometres was approximately eight kilometres northeast of Suncor’s main plant, 14 kilometres northeast of the Firebag Aerodrome and 16 kilometres east of Imperial Oil’s Kearl oil sands mine.

Both Imperial and Cenovus have said there is no imminent danger to their own oil sands facilities in the region.

The news was first announced by Forestry Minister Todd Loewen on Twitter (‘X’) and then confirmed by company officials.

According to the Alberta government, there are 67 active wildfires — all of them north of Edmonton. Of those, 18 are considered out of control with 17 of those in the High Level area near the Northwest Territories border.
 

Oil sands closures are common through the summer months and the latest shut downs aren’t expected to have much impact on production.

Nonetheless, the differential for Western Canadian Select settled at $14.60 a barrel below US benchmark West Texas Intermediate, in anticipation of future shutdowns. It’s typically about $20.

Temperatures in northern Alberta are expected to remain hot and dry over the next week with average daytime highs above 30 C.

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