Suncor Energy Inc T.SU

A change of pace

[Oldnagger]

Positives for SU
Line 3 start up at 620 kbpd in October. Line fill probably going in as we speak
Shell is backing out of the Permian. This may forebode them backing out of Canada. I.e less competition both upstream and downstream
Covid is being contained, World case levels going down at 8 to 10% per week. More and more economies opening up
Opec + some countries are having trouble meeting even August demand. Control is being concentrated in only 3 or 4 hands at most
USGC still not back on line loss of 250 kbpd of light sour crude till end of the year
API minus 6.1 million barrels of crude inventory
Investment attitudes will surely be changing as crude and product shortages mount this winter.
Even the most obtuse will finally realise that petroleum is an essential product for which there are no essy substitutes

please add your comments both positive and negative. One proviso , let's try to keep it real out of respect to others !!

[Oldnagger]

China has finally agreed to stop financing new coal projects in other countries. They will nevertheless continue to finance new coal plants within China up till 2030. When it comes to fighting climate change, the 900 pound gorilla in the room is China !! What is tthe UK 's response? They are now in a full blown energy crisis due to having shut down their coal plants in favour of imported

[Chad123]

LMAO CanaDUH will have the Wrong response because of the Dimwit puppet leading the Circus...... You can be sure that Canada will go from a Covid Crises to a Climate Crises and the puppet wiill be the Saviour....Yup the narrative will be strictly controlled and the very real socialist will back him to the hilt.....Get ready for lots of steaming piles of shiit coming our way.....

[MigraineCall]

More positives for the Suncor bull case: - Stabilization of Fort Hills mine wall is proceeding, should be done in months, then will be back to full production - Canadian election uncertainty is over - Have already undergone significant share divestment due to ESG, expect that it will be winding down soon (my thought) - Continued declining global and US inventories - DUC well backlogs nearly

[Obscure1]

Thanks Oldnagger and MigraineCall for the summaries of the positives presented by Suncor.  In a world of ESG doom and gloom magnified by the nitpicking of the disgruntled, it is refreshing to see that some of us still believe that profitable companies who provide low cost products that the world is going to need for a long time.

[Experienced]

Excellent post and great sumary of the current situation. One thing I might add is that it is highly likely following the completion of the current NCIB next February that we will see a significant hike in the dividend - provided of course that there is not some Black Swan event. The only missing IMO is some of strategy statement regarding a longer plan to expand the renewable energy footprint.

[Oldnagger]

Thanks for everyones remarkable contribution to this thread. Lets keep it going. Negatives are welcome also. Together we can help each other at a time of great upheaval. As everyone knows I am a perpetual Bull . I just happen to think that this time I am right. It may take time but the rewards can be sudstantial . There is a lot of upside still.  my further contribution for today is the EIA