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. > Canada posted a large trade deficit for May

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Comment by meritmaton Jul 07, 2023 8:25am

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Post# 35530497

RE:Canada posted a large trade deficit for May

Torontojay wrote:
Canada posted a trade deficit of CAD 3.44 billion in May of 2023, shifting from a downwardly revised surplus of CAD 0.89 billion in the prior month and against market forecasts of a CAD 1.15 billion surplus. This was the largest deficit since October 2020, as exports slumped by 3.8% over a month to a near 1-1/2-year low of CAD 61.5 billion, mainly due to lower shipments of energy products (-7.3%), notably crude oil (-8.3%) and coal (-14.5%) in large part because of lower prices. Exports also fell sharply for farm, fishing and intermediate food products (-13.4%), especially for wheat and canola. Conversely, imports rose 3% to a four-month high of CAD 65 billion, boosted by acquisitions of metal and non-metallic mineral products (+12.3%), largely unwrought gold, silver, and platinum group metals and their alloys (+42.8%). Purchases also increased solidly for motor vehicles and parts (+4.5%), namely engines and parts (+6.9%) and passenger cars and light trucks (+4.6%).

I'm guessing the lower oil shipments are due to turnaround season in the oil sands

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Advancing an underexplored area of the Yukon with the same geology as B.C’.s Golden Triangle