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. > Congratulations

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Post by Obscure1on Mar 19, 2024 10:34am

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Post# 35940474

Congratulations

First off, congrats to those who have held SU through the last couple of years as the $83 WTI has to be heartwarming.

In a bit of a somber note, Shell announced that they are divesting 500 gas stations in 2024 and another 500 in 2025. The company also announced that they are expanding EV charging and convenience store offerings.

IMO, the above information is more of a trend thing to watch as opposed to something to be alarmed about. Selling off or closing 1,000 gas station only represents 2.1% of their 50,000 gas station.

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