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 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.

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Suncor Energy Inc > Suncor Energy Stock ZOOMS as Global Oil Supply Collapses

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Comment by mrbbon Mar 13, 2022 8:05pm

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Post# 34510551

RE:Suncor Energy Stock ZOOMS as Global Oil Supply Collapses

Shhh, i'm still accumulatng

DeepTrueShip wrote:

Suncor Energy Stock ZOOMS as Global Oil Supply Collapses

We still haven’t seen Suncor’s earnings for the current quarter, which ends in about three weeks. However, we do know that Suncor’s fourth quarter — which saw only moderately strong oil prices — was pretty strong. In the quarter, Suncor delivered the following:

$3.14 billion in adjusted funds from operations (FFO), up 157%

$1.29 billion in operating income, up from a loss

$1.55 billion in net income, up from a loss

$3.7 billion in debt reduction

The results for the current quarter will likely be far better. The higher the price of oil goes, the higher the prices Suncor can charge to its customers. So, the possibility of $2 billion or more in net income for Q1 is very real.

https://www.fool.ca/2022/03/09/suncor-energy-stock-zooms-as-global-oil-supply-collapses/