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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 production; petroleum refining in Canada and the United States; and the Company’s Petro-Canada retail and wholesale distribution networks (including Canada’s Electric Highway, a coast-to-coast network of fast-charging electric vehicle (EV) stations). The Company is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower-emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. The Company also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. It also wholly owns the Fort Hills Project, which is located in Alberta's Athabasca region.


TSX:SU - Post by User

Comment by Obscure1on Jul 18, 2021 2:47pm
139 Views
Post# 33567038

RE:RE:RE:RE:RE:RE:RE:RE:Definitely some other unknown factor

RE:RE:RE:RE:RE:RE:RE:RE:Definitely some other unknown factorWell said Spanito as the unknowns are crippling investor sentiment for the E&P's. 

None of the 135 refineries in the USA are capable of processing dilbit unless they have been retrofitted at a cost of about US$1 billion each.  Most of the retrofits were done in the US midwest (which had to rely upon Alberta production due to pipeline constraints) and some on the GC as well as a few in the east (SU's 2 refineries in Sarnia and Montreal for example).

With the cloudy future of oil and the difficulty in building new pipelines, I don't see any of the dilbit friendly refineries investing in anything new until the energy transition has a clear vision. 

Given that Venezuela is a mess and the fact that the US doesn't have any carbon tax, I expect the demand for Alberta's tar sands to remain strong for the next 20 years if not longer.

With the oil majors slashing their CAPEX budgets, shortages are more of a concern that gluts, so oil prices are not likely to be going down by a significant amount going forward. 




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