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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 Apr 18, 2023 9:14am
186 Views
Post# 35400191

RE:Should this be a surprise?

RE:Should this be a surprise?Yep.  And when you combine this with the fact that the extension to the Base Plant is unlikely to get environmental approval, it never ceases to amaze me that SU management continues to double down on oil as opposed to using its FCF to develop significant alternative businesses to ensure future growth for its shareholders.

This is something I have been talking about for a long time and a basic reason why I am not a long term shareholder in SU.

With the article you referenced, it begs the question as to what SU will now do with the billions that it had allocated in its business plan for Fort Hills.
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