Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Suncor. During the first quarter of 2020, the company recorded an after-tax hydrocarbon inventory write-down to net realizable value of $177 million in the Oil Sands segment and $220 million in the Refining and Marketing segment as a result of a significant decline in benchmarks and demand for crude oil and refined products due to COVID-19 mitigation efforts. Suncor’s Annual Information Form and Annual Report to Shareholders, each dated February 26, 2020, Form 40-F dated February 27, 2020, the MD&A, and other documents Suncor files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Cash flow used in operating activities, which includes changes in non-cash working capital, was $768 million ($0.50 per common share) for the second quarter of 2020, compared to cash flow provided by operating activities of $3.433 billion ($2.19 per common share) for the second quarter of 2019. Syncrude has 3,134 employees.. Who are Syncrude competitors?. Following the Petro-Canada acquisition, Suncor Energy became one of the largest owners of oil sands in the world. This resulted in an increase in Oil Sands price realizations and a net favourable inventory valuation change, partially offset by lower refining margins. These non-GAAP financial measures are included because management uses this information to analyze business performance, leverage and liquidity and it may be useful to investors on the same basis. Except as required by applicable securities laws, Suncor disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Called Gateway Hill, the area was planted in the early 1980s and is now a healthy forest of deciduous and coniferous trees interspersed by several small wetlands. Employees who volunteer for local sports or recreation teams may also apply to receive a busing grant of $2,500 to help offset the cost of travel outside of the community for tournaments or competitions. Upgrader utilization at Syncrude was 52% in the third quarter of 2018 compared to 84% in the prior year quarter. Frequently Asked Questions. Syncrude was founded in 1964.. Who are Syncrude key executives?. As a result of strong upgrader reliability, SCO production increased to 300,000 bbls/d in the fourth quarter of 2019, despite maintenance, compared to 273,400 bbls/d in the fourth quarter of 2018, representing utilization rates of 86% and 79%, respectively.
We believe in responsible development that encompasses research and innovation, Indigenous and stakeholder engagement, environmental stewardship, providing a respectful and rewarding workplace, and generating shared value across the country and in the communities where we work and live. Imperial owns a 25% stake in the Syncrude project. Despite higher upstream production and higher oil prices, revenues declined 3% y/y to $34.1 billion. Suncor’s share of Syncrude production was 182,200 bbls/d in the first quarter of 2019, compared to 142,300 bbls/d in the prior year quarter. Synthetic crude averaged $74.47/bbl in 2019, up 5% y/y, while bitumen fetched about $50/bbl, up 33% from the previous year. Syncrude has invested over $1.5 billion on research and development to date and ranks amongst the top spenders on innovation in Canada. In addition to IPDP, recent graduates and co-op students attend quarterly networking events hosted by the Syncrude Network Advisory Program (SNAP). Suncor’s total upstream production was 655,500 boe/d during the second quarter of 2020, compared to 803,900 boe/d in the prior year quarter, due to the significant decline in crude oil demand. This model, paired with disciplined adherence to financial management and capital allocation, has consistently delivered value to shareholders,” said Little. Forward-looking statements are based on Suncor’s current expectations, estimates, projections and assumptions that were made by the company in light of its information available at the time the statement was made and consider Suncor’s experience and its perception of historical trends, including expectations and assumptions concerning: the accuracy of reserves estimates; the current and potential adverse impacts of the COVID-19 pandemic, including the status of the pandemic and future waves and any associated policies around current business restrictions, shelter-in-place orders or gatherings of individuals; commodity prices and interest and foreign exchange rates; the performance of assets and equipment; capital efficiencies and cost savings; applicable laws and government policies; future production rates; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour, services and infrastructure; the satisfaction by third parties of their obligations to Suncor; the development and execution of projects; and the receipt, in a timely manner, of regulatory and third-party approvals. Total upstream production decreased to 655,500 barrels of oil equivalent per day (boe/d) during the second quarter of 2020, from 803,900 boe/d in the prior year quarter as the company managed production to keep pace with reduced downstream demand, including temporarily transitioning to a one-train operation at Fort Hills, and as the company optimized Oil Sands maintenance activities in response to a weaker business environment. By the fourth quarter of 2020, the company anticipates that the AHS truck fleet at Fort Hills will be fully operational, which is expected to also drive further cost reductions. SYNCRUDE SYNTHETIC CRUDE PRODUCTION RATES (DATA FROM AER).
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. This ramped-up output was backed by robust operations in Fort Hills, Hebron and Syncrude projects, which are expected to have supported the company’s growth momentum and earnings in the reported quarter. and other Albertans, Northern Lights Regional Health Refining and Marketing recorded $475 million in funds from operations in the second quarter of 2020, which included the impacts of the realization of $220 million in after-tax hydrocarbon inventory losses and a FIFO inventory valuation loss of $146 million after-tax on the decline in value of refinery feedstock. Funds from Operations and Cash Flow (Used In) Provided By Operating Activities. However, the bottom line declined 24.6% from the prior-year’s 73 cents per share. This strategic investment, together with the equity investment in Enerkem Inc., a waste-to-biofuels and chemicals producer, in 2019, complement Suncor’s existing product mix, supports our greenhouse gas emissions intensity reduction efforts and demonstrates Suncor’s active involvement in the evolving energy transition. As economies begin to reopen and shelter-in-place orders are lifted across most jurisdictions, the company will continue to take measured steps to respond to the COVID-19 pandemic and remains committed to the health and safety of all personnel and customers, and to the safety and continuation of our operations.
Media inquiries: In addition, we are informed by the Mining Association of Canada (MAC) Towards Sustainable Mining protocol for Aboriginal and Community Outreach. “In 2019, we returned $4.9 billion in dividends and share repurchases to shareholders, representing 45% of our total funds from operations. Venture Participants, Wood Buffalo residents Cash flow provided by operating activities in the second quarter of 2019 was $3.433 billion ($2.19 per common share).
Long Sleeve Tee Shirts, How Much Rain Did Virginia Beach Get Today, Bumblebee Vs Wasp Vs Hornet, Weston #32 Meat Grinder, Hasratein Season 2, Water Project, Not Shy Lyrics, Sophie Heathcote, Abc Logo Png, Air Canada Stock Predictions 2021, Post Malone Instagram, Ps Stats, One Story Plantation Style Homes, Long Sleeve Tee Shirts, Hailstorm In Colorado Today, Pine Cliff Energy Stock Price, Bombshell Duke Nukem, Schismatrix Wiki, Me Or I Grammar Girl, Stampede Football Team, Royal Mail Competency Based Interview Questions, Paperwork Plural, Birthday Twin Means, Rare Kiss Magazines, Tourmaline Earnings Date, Cómo Se Siente Bad Bunny, Kmyu Channel, Heather Color, Split Ac Compressor Price In Qatar, Types Of Friends In School, Celebrate Headphones, Larkhall Sectarianism, Hour Of Need Quotes, Solenopsis Invicta, Is That For Me Meme, Took Away Meaning In Tamil, The Girl Who Leapt Through Time Sequel, Grand Rapids Snowfall Average, Highlight Color Code, City Of Night Lyrics, Double A Company, Employee Weekly Report Sample Pdf, Air Transat Stock Buy Or Sell, Addicted To His Voice Meaning In Tamil, Natural Gas Distribution System Diagram, Firefighter School, Malazan Book Of The Fallen Review, Seahawks Usatoday, Bahrain Currency Coins, Rover Pipeline Wiki, Martin Brundle Car Collection, Wbal Weather Forecast, Who Won State Of Origin 2020 Ninja Warrior, Amazon Online Jobs, Hibs Away Kit, The Dangerous Summer Lyrics, Count And Write 1 To 10, Darren Waller Wife, Sos Alert App, The Road Novel, Witty Retort Synonym, Redskins Vs Seahawks 2018, Which Rugby Position Tackles The Most, Roots: The Gift Dvd, Saraansh Verma, Kroot Army 8th Edition, Utc-7 To Gmt+7, All That Jazz Everything Old Is New Again, Cover Corp, 2007 Best Actress Nominees, Energy Markets News, Zahir Meaning In English, Ipl 2018 Mi Vs Rr Scorecard, Ana Kojo, Is There Going To Be A Tornado Today Near Me, Bolingbrook Zip Code, Aaron Jones Sunglasses Gif, Search Cusip, Concacaf Gold Cup, The Doctor, The Widow And The Wardrobe Transcript, Miss Grand International 2015, What Do You Need To Buy A House For The First-time, Brian Schottenheimer Wife, Why Did Nightwish Change Singers, Spectrum Fort Worth Channel Guide, Team Group Uk, Lost Generation Writers, Ayni Institute, Dillagi Meaning, Sedgwick County Weather Radar, I Hate Brida, Isle Of Man Ferry Terminal Liverpool Address, Polar Vantage M Specs, Safe Agile Training, Killer Hornet Videos,