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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 PabloLafortuneon Jul 03, 2023 2:46pm
140 Views
Post# 35524997

RE:RE:RE:RE:RE:Rig counts continue to drop, Shale growth stalls

RE:RE:RE:RE:RE:Rig counts continue to drop, Shale growth stallsGood discussions. I'd like to add that most of the world's population lives in abject poverty.  As they rise out of poverty, they will consume more energy. But because they are poor, they will choose the cheapest source of energy*. Which in the future will be coal and oil (oil is already cheaper than the JKM ie LNG prices). So IMO, oil will be around for a long time.  BUT like I said it may not be that profitable of a business for high cost producers.

Problem in Canada for natgas producers is and has been for years, egress - we can't get our natural gas to world markets - not only do our producers not get JKM (only TOU and ARX get some but its a drop in the bucket), but our local hub trades at a significant discount to US hubs. 

* the only exception is China - they are no longer poor but they still choose the cheapest energy - coal.
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