Suncor Vitality Inc. has reported internet earnings of $2.02 billion for the third quarter of 2024, surpassing the $1.54 billion reported for the corresponding quarter final yr.
The corporate mentioned in a media launch it achieved a report general utilization of 105 p.c and a throughput of 487,600 barrels per day (bpd), in comparison with 99 p.c 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.
The corporate additionally posted report refined product gross sales of 612,300 bpd within the third quarter of 2024, in comparison with 574,100 bpd in Q3 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.
- Advertisement -
“Whereas the second quarter was about executing main deliberate upkeep actions and constructing momentum, the third quarter was about performing and delivering on commitments, which is strictly what Suncor did. Distinctive outcomes had been achieved throughout the corporate in asset reliability and price administration, leading to great working leverage as demonstrated in our monetary outcomes”, mentioned Wealthy Kruger, Suncor’s President and Chief Government Officer.
Throughout the quarter, Suncor’s oil sands bitumen manufacturing elevated to 909,600 bpd, above the 787,000 bpd recorded a yr prior. The corporate’s internet artificial crude oil (SCO) manufacturing elevated to a third-quarter report 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 in Q3 2024, 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.
Moreover, E&P manufacturing rose to 52,600 bpd in Q3 2024, boosted by contributions from Terra Nova and Hebron, partially offset by the short-term suspension of White Rose manufacturing.
Suncor mentioned it has diminished its internet debt by $1.8 billion to $7.96 billion.
To contact the creator, electronic mail andreson.n.paul@gmail.com
What do you assume? We’d love to listen to from you, be part of the dialog on the
Rigzone Vitality Community.
The Rigzone Vitality Community is a brand new social expertise created for you and all vitality professionals to Converse Up about our business, share data, join with friends and business insiders and interact in knowledgeable neighborhood that can empower your profession in vitality.
