Crack spreadsThere are days were i wonder how much Suncor shareholders realize how lucrative their refining business is.
Nat. gas price as been depress in 2023 witch is a big + for Suncor.Because of the threat of a strike by Australia LNG employees,
AECO as moved up a bit in the last 3 days but is still below $3
Nat gas prices usualy move up in Q4.
Nat gas prices below $3 adds about 30 cents / share of profits to SU.
The 1500 cut in staff by the end of 2023 should add another 20 cents to the bottom line in 2024.
I may be wrong on that but the way i understood the div. increase from 52 cents to 57 cents in Q3
was contingent on the acquisition of Surmont.
But the way the refining side is adding to the bottom line, i wonder if they may still go ahead
and increase it.
We will find out monday night.
At 57 cents, SU would yield 5.32% at current price.
Now data on crack spreads(closing price in CDN$)
3-2-1
June 12th 2023: $46.41
July 11th 2023:$46.01
Right now:$57 67
2-1-1
June 12th 2023: $44.79
July 11th 2023:$45.65
Right now:$59.81
WTI
June 12th 2023: $89.72
July 11th 2023:$99.01
Right now:$111.78
Q3 is shaping up to be highly profitable for Suncor
Nice weekend to all.
Life is good