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 > US preparing to halt 140mn bl of SPR crude sales

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Comment by Konaboyon Dec 22, 2022 7:57am

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Post# 35186532

RE:US preparing to halt 140mn bl of SPR crude sales

I might be inclined to call it a buyout of the previous legal obligation, versus a declaration that there will be no more sales. A covering of the paper position, if you will.

Would give the administration more power to time buys/sells for optimum benefit (as per their goals).

Without a doubt, I would also call it Good News1

MigraineCall wrote: The cancellation of almost all planned SPR releases over the next few years is rolled into the $1.7T US omnibus bill, being voted on this week.

As I understand, this still leaves about 26m bbl of SPR release scheduled by Sept 2023 yet to be cancelled. Dumb, if they are planning to refill it.

The end of the US using the SPR to flood the market is near, and tightening.

https://www.argusmedia.com/en/news/2402590-us-preparing-to-halt-140mn-bl-of-spr-crude-sales?backToResults=true