Suncor Power Inc. reported rising its annual upstream manufacturing to a spread of 810,000 to 840,000 barrels per day (bpd).
The Calgary, Alberta-based additionally boosted annual refining utilization of 93 % to 97 %, based on a current information launch.
Suncor mentioned its upstream manufacturing displays deliberate turnaround and upkeep actions in the course of the yr, together with a 91-day outage at Base Plant Upgrader 1 for the coke drum alternative challenge. Its downstream utilization “additionally displays the influence of deliberate turnarounds on the Edmonton and Sarnia refineries totaling 58 and 40 days, respectively,” it added.
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“We’re 100% centered on rising free funds circulation per share by elevated volumes, margins, value reductions, and a disciplined capital funding program. Our 2025 steerage embodies this focus and is aligned with the commitments we set in our Might 2024 Investor Day,” Suncor President and CEO Wealthy Kruger mentioned. “We’re delivering worth to shareholders forward of expectations by Suncor’s unparalleled, built-in upstream and downstream asset base, underpinned by massive scale, long-life oil sands assets”.
Suncor famous that its 2025 capital program is “a steadiness between investments in sustaining its enterprise, whereas selectively investing in excessive worth financial alternatives”. Main financial investments deliberate or persevering with in 2025 embrace the alternative of the Upgrader 1 coke drums at Base Plant, the event of the Mildred Lake West Mine Extension and West White Rose
“Our confidence in our means to ship the commitments outlined within the three-year plan we put ahead in Might 2024 will increase every day,” Kruger mentioned.
In November, Suncor reported internet earnings of $2.02 billion for the third quarter of 2024, in comparison with $1.54 billion within the corresponding quarter final yr.
The corporate mentioned it achieved a document general utilization of 105 % and throughput of 487,600 bpd, in comparison with 99 % and 463,200 bpd within the prior-year quarter. The third quarter of 2023 was impacted by deliberate upkeep actions on the Edmonton and Montreal refineries, based on an earlier earnings launch.
The corporate posted document refined product gross sales of 612,300 bpd within the third quarter, in comparison with 574,100 bpd in the identical interval of 2023, with the rise primarily as a result of greater refinery throughput and the corporate leveraging its in depth home gross sales community and export channels.
Within the third quarter, Suncor’s oil sands bitumen manufacturing elevated to 909,600 bpd, above the 787,000 bpd recorded within the earlier yr. The corporate’s internet artificial crude oil (SCO) manufacturing elevated to a third-quarter document of 513,800 bpd, in comparison with 469,300 bpd for the prior-year quarter, reflecting greater upgrader availability as a result of decrease deliberate turnaround actions.
Non-upgraded bitumen manufacturing surged to 262,200 bpd within the quarter, up from 176,800 bpd within the prior-year quarter. This enhance was primarily pushed by the acquisition of Fort Hills, robust efficiency at Firebag, and decrease upgrader feedstock demand.
Additional, E&P manufacturing rose to 52,600 bpd in Q3 2024, boosted by contributions from Terra Nova and Hebron, partially offset by the non permanent suspension of White Rose manufacturing.
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