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 > Well Biten what's you gonna do now

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Comment by MigraineCallon Jun 28, 2023 11:53pm

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Post# 35519798

RE:RE:Well Biten what's you gonna do now

Well, to be more accurate, we are almost at the end of the SPR releases.

1.7 mm bbls of sweet crude were released last week, out of the 26 mm bbls of congressionally mandated releases.

There are 3.4 mm bbls remaining to be released by the end of June. Most likely sweet as well.

As the US already produces about twice as much light sweet as it can possibly refine and use, the arguement is that the US does not need to hold an SPR of that type.

Imported medium and heavy sours is what is needed in an SPR for refinery feedstock. It is this type of crude that is starting to fetch a premium on the global markets.