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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 Experiencedon Mar 27, 2023 4:51pm
157 Views
Post# 35363300

RE:RE:Refineries that matter to Suncor

RE:RE:Refineries that matter to SuncorWill be interesting to see how the commercial EV charging stations play out.

The current trend seems to be a combination of some big companies such as ChargePoint, especially in the US, building out capacity and retailers such as grocery chains and convenience stores building out capacity.  In this scenario there could actually be an oversupply of commercial EV charging stations, at least in North America.  When I was in Spain last September, the Shell station a 5 minute walk from my condo rental had two level 2 chargers which if I lived in the condo, would be very convenient.  Talking to owners at the condo, I was told that the condo Board was giving thought to installing level 2 chargers but would wait until the majority of owners had converted to EVs.

Over supply could lead to some price competition and possible marketing strategies such using the EV charging stations as a loss leader to get people to shop at that location. This would especially be true as charging speeds increase.  For example a 350KV charging station could refill the battery of an IONIQ5 from 10-80% in 18 minutes which is at least as long as most would be in say a grocery store shopping.

If this were to occur then it would bring in the question as to whether it would be worth it to go to the expense of having to spend money to upgrade your existing house from 100 to 200 amp service plus the cost of a level 2 home charging station.

Interesting times ahead for sure.
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