Syncrude

Imperial announces second quarter 2023 financial and operating results

Retrieved on: 
Friday, July 28, 2023
Oil, Gas, Energy, Government of Alberta, SAGD, Drinking water, Share repurchase, Engineering, Policy, Syncrude, Imperial, Federal, Carbon, Sale, Downstream, Steam, GRP1, Renewable energy, Holding company, Arms industry, Kearl Oil Sands Project, Cold Lake

Imperial reported estimated net income in the second quarter of $675 million, compared to net income of $1,248 million in the first quarter of 2023, driven by lower refining margins and planned turnaround activity.

Key Points: 
  • Imperial reported estimated net income in the second quarter of $675 million, compared to net income of $1,248 million in the first quarter of 2023, driven by lower refining margins and planned turnaround activity.
  • Quarterly cash flow from operating activities was $885 million, up from $821 million used in the first quarter of 2023.
  • During the quarter, Imperial returned $257 million to shareholders through dividend payments and declared a third quarter dividend of 50 cents per share.
  • Chemical net income of $71 million in the quarter, up from $53 million in the second quarter of 2022.

Five inspirational youth receive national award for leadership in STEAM

Retrieved on: 
Wednesday, May 25, 2022
Knowledge, Engineering, Canada Agriculture and Food Museum, Canada Science and Technology Museum, Mentorship, Leadership, Natural science, Science, Investment, Canada Aviation and Space Museum, Literacy, Agriculture, Technology museum, Robotics, Museum, Research, NSERC, STEAM, Creativity, Center, Student, Technology, Natural Sciences and Engineering Research Council, Mathematics, Management, Medicine, Indspire, Syncrude, Ingenium

OTTAWA, ON, May 25, 2022 /CNW/ - Ingenium is thrilled to recognize five inspirational youth who have made positive changes in their community using science, technology, engineering, arts and mathematics (STEAM).

Key Points: 
  • OTTAWA, ON, May 25, 2022 /CNW/ - Ingenium is thrilled to recognize five inspirational youth who have made positive changes in their community using science, technology, engineering, arts and mathematics (STEAM).
  • The Ingenium-NSERC STEAM Horizon Awards help set the stage for a new generation of Canadian innovators to excel in the STEAM fields.
  • Each winner in the national prize program is awarded $25,000 to go towards their post-secondary education in a STEAM field at a Canadian university, college or CGEP.
  • Supporting the creativity, leadership, and innovation of our youth will have a direct impact on our future which is why Ingenium is so proud to recognize these five incredible students."

Suncor Energy announces 2022 production outlook and capital program

Retrieved on: 
Monday, December 13, 2021
Weather, Forward-looking statement, AECO, FTSE4Good Index, Terra Nova, Growth, SEDAR, EDGAR, Public expenditure, Investment, CAD, COVID-19, Annual report, Capital expenditure, Perception, UN Global Counter-Terrorism Strategy, Government House (Alberta), Intention, CDP, Plains Exploration & Production, Kyoto Protocol and government action, Exploration, Natural gas, Government, Investor relations, MD, West Texas Intermediate, Twitter, Oil sands, Â, GAAP, Dow Jones Sustainability Indices, Maintenance, Mining, Fortification, News, Risk management, Oil, Bank, Suncor Energy, Firebag River, Syncrude

Suncors corporate guidance provides managements outlook for 2022 in certain key areas of the companys business.

Key Points: 
  • Suncors corporate guidance provides managements outlook for 2022 in certain key areas of the companys business.
  • Assumptions for the Oil Sands operations, Syncrude and Fort Hills 2022 production outlook include those relating to reliability and operational efficiency initiatives that the company expects will minimize unplanned maintenance in 2022.
  • Assumptions for the Exploration & Production 2022 production outlook include those relating to reservoir performance, drilling results and facility reliability.
  • Declines in commodity prices may alter our production outlook and/or reduce our capital expenditure plans.

Suncor Energy reports first quarter 2021 results

Retrieved on: 
Tuesday, May 4, 2021
Petroleum, Physical sciences, Petroleum industry, Chemistry, Bituminous sands, Petroleum geology, Fort McMurray, Inventory, Oil sands, Syncrude, Asphalt, FIFO

Funds from operations included a first-in, first-out (FIFO) inventory valuation gain of $373 million after-tax in the first quarter of 2021, compared to a FIFO inventory valuation loss of $446 million after-tax in the prior year quarter.

Key Points: 
  • Funds from operations included a first-in, first-out (FIFO) inventory valuation gain of $373 million after-tax in the first quarter of 2021, compared to a FIFO inventory valuation loss of $446 million after-tax in the prior year quarter.
  • The Syncrude and Oil Sands operations upgraders achieved combined upgrader utilization of 97% in the first quarter of 2021, compared to 93% in the prior year quarter, despite coker annual planned maintenance at Oil Sands Base that commenced late in the first quarter of 2021 and was completed subsequent to the end of the quarter.
  • Operating, selling and general expenses in the first quarter of 2021 included share-based compensation expense, compared to a share-based compensation recovery in the prior year quarter.
  • As demonstrated this quarter, the company continues to execute on its previously announced 2021 commitment of allocating incremental free funds flow towards debt and share buybacks.

Suncor Energy announces 2021 production outlook and capital allocation

Retrieved on: 
Monday, November 30, 2020
Petroleum geology, Petroleum, Petroleum industry, Fort McMurray, Articles, S&P/TSX 60 Index, Suncor Energy, Sunoco LP, Oil sands, Syncrude, Oil well, Companies

(1) At the time of publication, production in Libya continues to be affected by political unrest and therefore no forward-looking production for Libya is factored into the Exploration & Production and Suncor Total Production guidance.

Key Points: 
  • (1) At the time of publication, production in Libya continues to be affected by political unrest and therefore no forward-looking production for Libya is factored into the Exploration & Production and Suncor Total Production guidance.
  • Assumptions for the Oil Sands operations, Syncrude and Fort Hills 2021 production outlook include those relating to reliability and operational efficiency initiatives that the company expects will minimize unplanned maintenance in 2021.
  • Assumptions for the Exploration & Production 2021 production outlook include those relating to reservoir performance, drilling results and facility reliability.
  • Declines in commodity prices may alter our production outlook and/or reduce our capital expenditure plans.

Suncor to assume operatorship of Syncrude by end of 2021

Retrieved on: 
Monday, November 23, 2020
Fort McMurray, Syncrude, Suncor Energy, Companies, Petroleum industry in Canada, Economy of Canada, Athabasca oil sands

This presents a significant strategic opportunity for Syncrude and the joint venture owners, said Mark Little, Suncor president and chief executive officer.

Key Points: 
  • This presents a significant strategic opportunity for Syncrude and the joint venture owners, said Mark Little, Suncor president and chief executive officer.
  • As neighbours for almost fifty years, Syncrude and Suncor have enjoyed a close relationship and a long, proud history in the region, added Little.
  • Suncors confidence in the Syncrude project and the opportunity to improve its operational performance is evidenced by Suncors strategy to increase its ownership in Syncrude.
  • For more information about Suncor, visit our website at suncor.com and follow us on Twitter @Suncor

Suncor Energy provides operational and 2020 guidance update

Retrieved on: 
Tuesday, September 8, 2020
Petroleum, S&P/TSX 60 Index, Suncor Energy, Sunoco LP, Petroleum industry, Physical sciences, Petroleum geology, Fort McMurray, Companies, Oil sands, Syncrude, Asphalt

Assumptions for the Oil Sands operations, Syncrude and Fort Hills 2020 production outlook include those relating to reliability and operational efficiency initiatives that the company expects will minimize unplanned maintenance in 2020.

Key Points: 
  • Assumptions for the Oil Sands operations, Syncrude and Fort Hills 2020 production outlook include those relating to reliability and operational efficiency initiatives that the company expects will minimize unplanned maintenance in 2020.
  • Factors that could potentially impact Suncor's 2020 corporate guidance include, but are not limited to:
    Bitumen supply.
  • A member of Dow Jones Sustainability indexes, FTSE4Good and CDP, Suncor is working to responsibly develop petroleum resources while also growing a renewable energy portfolio.
  • For more information about Suncor, visit our website at suncor.com , follow us on Twitter @Suncor or together.suncor.com

Suncor Energy provides a corporate update including revised 2020 capital program, operating costs and production outlook

Retrieved on: 
Tuesday, March 24, 2020
Petroleum, Petroleum industry, Fort McMurray, Petroleum geology, Physical sciences, Companies, Oil sands, Suncor Energy, Syncrude, Oil well, Asphalt, Generally Accepted Accounting Principles

Production ranges for Oil Sands operations, Fort Hills, Syncrude and Exploration and Production are not intended to add to equal Suncor Total Production.

Key Points: 
  • Production ranges for Oil Sands operations, Fort Hills, Syncrude and Exploration and Production are not intended to add to equal Suncor Total Production.
  • Suncor's corporate guidance provides management's outlook for 2020 in certain key areas of the company's business.
  • Assumptions for the Exploration and Production 2020 production outlook include those relating to reservoir performance, drilling results and facility reliability.
  • Oil Sands operations cash operating costs, Fort Hills cash operating costs, Syncrude cash operating costs and free funds flow are not prescribed by Canadian generally accepted accounting principles ("GAAP").

Suncor Energy announces 2020 capital program and production outlook

Retrieved on: 
Monday, December 2, 2019
Physical sciences, Chemistry, Bituminous sands, Petroleum industry, Petroleum geology, Fort McMurray, Synthetic fuels, Oil sands, Syncrude, Suncor Energy, Synthetic crude, Asphalt

Production ranges for Oil Sands operations, Fort Hills, Syncrude and Exploration and Production are not intended to add to equal Suncor Total Production.

Key Points: 
  • Production ranges for Oil Sands operations, Fort Hills, Syncrude and Exploration and Production are not intended to add to equal Suncor Total Production.
  • Oil Sands operations production includes synthetic crude oil, diesel, and bitumen and excludes Fort Hills PFT bitumen and Syncrude synthetic crude oil production.
  • Assumptions for the Oil Sands operations, Syncrude and Fort Hills 2020 production outlook include those relating to reliability and operational efficiency initiatives that the company expects will minimize unplanned maintenance in 2020.
  • Assumptions for the Exploration and Production 2020 production outlook include those relating to reservoir performance, drilling results and facility reliability.

Suncor Energy reports third quarter 2019 results

Retrieved on: 
Wednesday, October 30, 2019
Petroleum, Petroleum industry, Fort McMurray, Physical sciences, Petroleum geology, Companies, S&P/TSX 60 Index, Suncor Energy, Sunoco, Syncrude, Oil sands, Asphalt

References to Oil Sands operations exclude Suncor Energy Inc.s (Suncor or the company) interests in Fort Hills and Syncrude.

Key Points: 
  • References to Oil Sands operations exclude Suncor Energy Inc.s (Suncor or the company) interests in Fort Hills and Syncrude.
  • Suncors third quarter 2019 operating earnings were $1.114billion ($0.72 per common share), compared to $1.557billion ($0.96 per common share) in the prior year quarter.
  • Oil Sands operations production was 422,200bbls/d in the third quarter of 2019, compared to 476,100bbls/d in the prior year quarter.
  • Production volumes at E&P were 92,300boe/d in the third quarter of 2019, compared to 92,100boe/d in the prior year quarter.