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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

Post by ztransforms173on May 09, 2023 3:26pm
201 Views
Post# 35439227

Need Help: Where Is The SU "Work That Doesn't Add Value" ?

Need Help: Where Is The SU "Work That Doesn't Add Value" ?- and why are they doing it ?

- from this CP quoted statement, it appears that SU CEO has found a lot of waste in Suncor operations after visiting some of the large SU facilities (I imagine that Fort Hills and the Base Plant were the top of his onsite inspection priorities):

Kruger said Tuesday that in his first five weeks on the job, he has visited half of the company’s major facilities and met with workers and management.

While he said Suncor is a proud company with excellent people and high-quality assets, he believes it has untapped potential.

“I see a gap between our current performance and what I would consider best-in-class in many, many areas,” he said.

He also talked up the importance of “organizational efficiency” and suggested that there are ways to trim the company and reduce costs.

“I think we can eliminate work. I think we can do away with work that doesn’t add value,” he said, adding that all employees need to consider how their role helps to generate revenue for Suncor.

“I very much believe in making money. We are in the business to make money and as much of it as possible, and everybody starting with me needs to see how they do that,” Kruger said.

https://boereport.com/2023/05/09/new-suncor-ceo-kruger-focused-on-cost-cutting-will-play-to-win/

z173


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