Suncor's fourth-quarter profits increase 76 per cent to $2.74B

The Calgary-based company says its increased profit was due to the higher price of crude and refined product realizations as well as higher upstream production, partially offset by increased operating expenses.

On an adjusted basis, Suncor says it earned $2.43 billion, or $1.81 per common share, compared to $1.30 billion or 89 cents per common share in the prior year's quarter. The energy giant says its total upstream production increased to 763,100 barrels of oil equivalent per day in the fourth quarter of 2022, compared to 743,300 boe/d in the prior year quarter, primarily driven by increased production from the company's oilsands assets.

Suncor's refinery crude throughput was 440,000 barrels per day and its refinery utilization was 94 per cent in the fourth quarter of 2022, compared to 447,000 bbls/d and 96 per cent in the prior-year quarter. It attributes the decrease in part to unexpected maintenance that occurred in the quarter, including that required as a result of bad weather at the company's Commerce City refinery.

Source: Energy Industry News (energyindustrynews.net)

Does this mean I can have my job back? Remember me expeditor for firebag

So they're a well run business making a profit.

Suncor 2.74 billion last quarter. Yet it refuses to clean up our families land the contaminated and we have been fighting with them for 30 years

Are we collecting royalties similar in value to other oil producing jurisdictions? That needs a public inquiry. Given the value of oil and gas, we should be building the finest public healthcare system as well as the very best schools in the world.

R star program is bs

Makes sense since the price of oil was higher in 2022 compared to 2021. Stock price has nearly doubled in same time as well.

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