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 and gas production, petroleum refining in Canada and the United States and its Petro-Canada retail and wholesale distribution networks, including Canada’s Electric Highway, a coast-to-coast network of fast-charging electric vehicles (EV) stations. Petro-Canada has a network of over 1,800 retail and wholesale locations across Canada, providing customers with a wide variety of fuel and service offerings including low-carbon fuel options. It is developing petroleum resources while advancing the transition to a low-emissions future through investment in power and renewable fuels. It also wholly owns the Fort Hills Project, which is located in Alberta's Athabasca region, approximately 90 kilometers north of Fort McMurray.

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Suncor Energy Inc. > SU CHARTERS Aframax With Either And/Or CNQ/MEG AWB Barrels

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Post by ztransforms173on May 20, 2024 7:43pm

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Post# 36049203

SU CHARTERS Aframax With Either And/Or CNQ/MEG AWB Barrels

- the POWER and PROFIT of the Suncor Energy PROPRIETARY TRADING PLATFORM

First Canadian oil export cargo from expanded Trans Mountain pipeline set to load

May 20, 2024 3:17 PM Reuters

Crude oil tanker Dubai Angel on Monday moored at the Westridge Marine Terminal in Vancouver, preparing to load the first cargo of crude oil from the recently expanded Trans Mountain pipeline (TMX), ship tracking data showed.

Chartered by Canadian oil producer Suncor Energy, the Marshall Islands-flagged vessel was expected to load about 550,000 barrels of Access Western Blend (AWB) for delivery to China, ship tracking data on Kpler showed.

The expanded Trans Mountain pipeline (TMX), which will ship an additional 590,000 barrels per day (bpd) to Canada’s Pacific coast from Alberta, began commercial operations this month after years of regulatory delays and construction setbacks.

Flows on the pipeline and loadings from the Westridge Marine Terminal are being closely monitored by traders and shippers as the expansion gives Canadian producers more access to U.S. West Coast and Asian markets. Tightening supply of heavy crude has made Canadian oil more attractive to buyers around the world.

However, logistical constraints at the Port of Vancouver could limit the number of shipments, traders and shipping sources have said.

The Port of Vancouver, Trans Mountain and Suncor did not immediately reply to a requests for comments.

Suncor said this month that it was leasing Aframax vessels in the Pacific and selling direct to customers, seeking to maximize profits on oil being shipped on TMX.

(Reporting by Arathy Somasekhar in Houston, Florence Tan in Singapore Editing by Marguerita Choy)

https://boereport.com/2024/05/20/first-canadian-oil-export-cargo-from-expanded-trans-mountain-pipeline-set-to-load/

***

- for sure, MEG Energy does NOT have ENOUGH SCALE to JUSTIFY the EXPENSE of a SOPHISTICATED TRADING TEAM

- however, I am PERPLEXED (?) WHY Canadian Natural Resources does NOT STAND UP a TRADING office

- MEG has 20,000 bbls/d BOOKED capacity on TMX

- CNQ has 94,000 bbls/d BOOKED capacity on TMX

z173