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Bullboard - Stock Discussion Forum 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... see more

TSX:SU - Post Discussion

Suncor Energy Inc > TMX....Suncor First Shipment
View:
Post by Re1ndeer2 on Mar 23, 2024 11:53am

TMX....Suncor First Shipment

China’s Sinochem Group has purchased one of the first crude cargoes shipped through a new pipeline in Canada, which is designed to move oil from landlocked Alberta to the Pacific Coast for export.
 
Sinochem bought a 550,000-barrel cargo from Suncor Energy Inc., which will load from the Trans Mountain Expansion pipeline in May-June, said traders who asked not to be identified. The oil is a heavy crude quality, they added.
 
The Trans Mountain Expansion is the country’s biggest new pipeline in over a decade and will nearly triple the capacity of the system, allowing Canadian companies to sell more crude to Asia and the U.S. West Coast. The oil purchased by Sinochem is of similar quality to Iraqi Basrah crude and will likely be refined in coker units, traders said.
 
Sinochem and Suncor didn’t immediately respond for comment.
 
The pipeline was initially slated to start in 2017 but faced repeated delays, cost overruns, construction mishaps and regulatory hurdles. Canadian Prime Minister Justin Trudeau’s government bought Trans Mountain in 2018 from Kinder Morgan Inc. to save the project from cancellation.
Comment by ztransforms173 on Mar 26, 2024 9:08am
from my MEG SH BB post: ^^^ Post by ztransforms173 on Mar 25, 2024 4:38pm   101 Views  Post# 35951553   MEG (CNQ?) SELLS AWB To SINOPEC @ USD 4.50 Discount To BRENT - MEG has 20,000 barrels/day BOOKED CAPACITY on the TMX &: 20000 bbls/d * 30 days = 600,000 barrels - CNQ has 94,000 barrels ...more  
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