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 loses $609M in Q3

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Comment by Hightowntraderon Nov 02, 2022 10:14pm

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Post# 35068607

RE:RE:RE:Suncor loses $609M in Q3

HighOctane89 wrote:

Luckyguy777 wrote: Loss is due to a revalue of assets based on the price they just paid for a larger % of the same asset. It is a non-cash loss and likely should have been booked long ago if this is the current price. Either that or maybe they got a steal of a deal from Tech that wanted to get rid of some assets.

If they just bought an asset at a good deal it sucks to have to show a loss but them are the accounting rules. Maybe it is better than the results depict.

Well Lucky , it may only be a paper loss but you watch , tomorrow the $609M loss will be the headline . There is no love for O&G in Toronto and SU is the red-headed stepchild as the TSE looks at it . Nobody will be talking about production , 100% refinery utilization , FCF or debt reduction . All you will hear is SU posted a loss , that is a reality you can bank on . It's made me make some good trades that I never would have in a normal market . Toronto hates the west and will short these companies every chance they get , you just can't hold anything because the narrative dictates one viewpoint only .