Suncor Energy Inc (SU)

Suncor Energy reports voting results from Annual General MeetingMay 5, 2026 5:30 PM
NewsfileCalgary, Alberta--(Newsfile Corp. - May 5, 2026) - Suncor Energy (TSX: SU) (NYSE: SU) held its Annual General Meeting in Calgary today. A total of 842,465,674 shares (approximately 71.05% of outstanding common shares) were represented in person or by proxy.Shareholders voted as follows on the matters before the meeting: Shareholders elected the following ten board members (nine of whom are independent), with shares represented at the meeting voting in favour of individual directors as follows: Ian R. Ashby 98.69%
Russell Girling 92.12%
Jean Paul (JP) Gladu 98.61%
Jennifer R. Kneale 99.16%
Richard M. Kruger 99.02%
Brian P. MacDonald 97.54%
Lorraine Mitchelmore 92.78%
Jane L. Peverett 97.98%
Christopher R. Seasons 98.70%
M. Jacqueline Sheppard 98.28%Shareholders appointed KPMG LLP as Suncor's auditors. Management's approach to executive compensation (say on pay) disclosed in Suncor's management proxy circular dated February 25, 2026 was approved with 94.72% of shares represented at the meeting voting in favour. The resolution requesting Suncor prepare a report detailing the corporation's governance and oversight of its climate-related risks was denied with 80.39% of shares represented at the meeting voting against the proposal, in line with management's recommendation.Note: the biographies of Board members and further details about Suncor's corporate governance practices are available at suncor.com. An archive of the meeting webcast will be available for the next 90 days at https://www.suncor.com/en-ca/investors/events-and-presentations.Suncor Energy - Canada's leading integrated energy company
Suncor's operations span the full energy value chain, including oil sands mining and in situ operations, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide Petro-Canada™ retail and wholesale networks - delivering reliable energy that fuels economic growth and meets the needs of customers across Canada and globally. With an unwavering focus on safety, operational excellence, and profitability, Suncor is committed to delivering industry-leading performance and long-term shareholder value. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.For more information, visit suncor.com or find us on LinkedIn, Instagram and Facebook.Media inquiries:
1-833-296-4570
media@suncor.comInvestor inquiries:
invest@suncor.comTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/296099 Original: Suncor Energy reports voting results from Annual General Meeting

Suncor Energy reports first quarter 2026 resultsMay 5, 2026 5:15 PM
NewsfileUnless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and derived from the company's condensed consolidated financial statements which are based on Canadian generally accepted accounting principles (GAAP), specifically International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), and are prepared in accordance with International Accounting Standard (IAS) 34 Interim Financial Reporting. Production volumes are presented on a working-interest basis, before royalties, except for production values from the company's Libya operations, which are presented on an economic basis. Certain financial measures referred to in this news release (adjusted funds from operations, adjusted operating earnings, free funds flow, and net debt) are not prescribed by Canadian generally accepted accounting principles (GAAP). See the Non-GAAP Financial Measures section of this news release. References to Oil Sands operations exclude Suncor Energy Inc.'s ownership of Fort Hills and interest in Syncrude.Calgary, Alberta--(Newsfile Corp. - May 5, 2026) - Suncor Energy (TSX: SU) (NYSE: SU)First Quarter HighlightsGenerated over $4.0 billion in adjusted funds from operations and $2.9 billion in free funds flow.Returned over $1.5 billion to shareholders, with $825 million in share repurchases and over $700 million in dividends.Record first quarter upstream production of 875,000 barrels per day (bbls/d), 22,000 bbls/d higher than the prior year quarter.Record first quarter refining throughput of 498,000 bbls/d, 15,000 bbls/d higher than the prior year quarter.Record quarterly refined product sales of 681,000 bbls/d, 76,000 bbls/d higher than the prior year quarter."As showcased at our recent Investor Day, today's Suncor is a results-oriented, high-performance organization focused on meeting our commitments and generating strong and sustainable shareholder returns," said Rich Kruger, President and Chief Executive Officer. "We delivered record first quarter upstream production and refining throughput in addition to an all-time quarterly record for refined product sales.""We achieved this performance while maintaining a disciplined capital spending program as well as a strong balance sheet, allowing us to increase our monthly share repurchases for the second time in four months," added Troy Little, Chief Financial Officer.First Quarter ResultsFinancial Highlights
Q1 Q4 Q1 ($ millions, unless otherwise noted)
202620252025Net earnings
2 100 1 476 1 689Per common share(1) (dollars)
1.77 1.23 1.36Adjusted operating earnings(2)
2 300 1 325 1 629Per common share(1)(2) (dollars)
1.93 1.10 1.31Adjusted funds from operations(2)
4 030 3 218 3 045Per common share(1)(2) (dollars)
3.39 2.68 2.46Cash flow provided by operating activities
2 435 3 921 2 156Per common share(1) (dollars)
2.05 3.27 1.74Capital expenditures(3)
1 076 1 483 1 087Free funds flow(2)
2 913 1 699 1 900Dividend per common share(1) (dollars)
0.60 0.60 0.57Share repurchases per common share(4) (dollars)
0.69 0.65 0.61Returns to shareholders(5)
1 537 1 494 1 455Operating, selling and general expenses
3 778 3 518 3 297Net debt(2)
6 842 6 337 7 559Operating Highlights



Total upstream production (mbbls/d)
875.2909.0853.2Refinery crude oil processed (mbbls/d)
497.8504.2482.7Refinery utilization(6) (%)
97 99 94 (1) Presented on a basic per share basis.
(2) Non-GAAP financial measures or contains non-GAAP financial measures. See the Non-GAAP Financial Measures section of this news release.
(3) Excludes capitalized interest.
(4) Calculated as the cost of share repurchases, excluding taxes paid on share repurchases, divided by the weighted average number of shares outstanding.
(5) Includes dividends paid on common shares and repurchases of common shares; excludes taxes paid on common share repurchases.
(6) Effective January 1, 2026, Suncor increased the nameplate capacity of its refining network by 10% from 466,000 bbls/d to 511,000 bbls/d. All prior quarter utilization rates have been restated to reflect this change.Financial ResultsAdjusted Operating Earnings Reconciliation(1)

Q1 Q4 Q1 ($ millions)
202620252025Net earnings
2 100 1 476 1 689Unrealized foreign exchange loss (gain) on U.S. dollar denominated debt
139 (114) (14)Unrealized loss (gain) on risk management activities
92 7 (60)Provision reversal related to equity investments
- (66) -Income tax (recovery) expense on adjusted operating earnings adjustments
(31) 22 14Adjusted operating earnings(1)
2 300 1 325 1 629 (1) Non-GAAP financial measure. All reconciling items are presented on a before-tax basis and adjusted for income taxes in the income tax (recovery) expense on adjusted operating earnings adjustments line. See the Non-GAAP Financial Measures section of this news release.Suncor's adjusted operating earnings increased to $2.300 billion ($1.93 per common share) in the first quarter of 2026, compared to $1.629 billion ($1.31 per common share) in the prior year quarter, primarily due to increased downstream margins and upstream price realizations, and increased upstream and downstream sales volumes, partially offset by increased operating and transportation expenses associated with the higher sales volumes. Adjusted operating earnings were also impacted by a strengthening of benchmark pricing in the current quarter, resulting in a first-in, first-out (FIFO) inventory valuation gain, partially offset by a deferral of intersegment profit.Net earnings increased to $2.100 billion ($1.77 per common share) in the first quarter of 2026, compared to $1.689 billion ($1.36 per common share) in the prior year quarter. In addition to the factors impacting adjusted operating earnings, net earnings for the first quarter of 2026 and the prior year quarter were impacted by the items shown in the table above.Adjusted funds from operations increased to $4.030 billion ($3.39 per common share) in the first quarter of 2026, compared to $3.045 billion ($2.46 per common share) in the prior year quarter, and were primarily influenced by the same factors impacting adjusted operating earnings.Cash flow provided by operating activities, which includes changes in non-cash working capital, was $2.435 billion ($2.05 per common share) in the first quarter of 2026, compared to $2.156 billion ($1.74 per common share) in the prior year quarter. Operating, selling and general (OS&G) expenses were $3.778 billion in the first quarter of 2026, compared to $3.297 billion in the prior year quarter, with the increase primarily due to increased share-based compensation expense, higher upstream and downstream sales volumes, increased maintenance activities and higher commodity input costs.Operating Results

Q1 Q4 Q1 (mbbls/d, unless otherwise noted)
202620252025Upstream



Total Oil Sands bitumen production
933.9 992.7 937.3SCO and diesel production
550.8 586.8 567.3Inter-asset transfers and consumption
(31.5) (29.8) (30.7)Upgraded production - net SCO and diesel
519.3 557.0 536.6Bitumen production
364.7 343.5 341.7Inter-asset transfers
(85.2) (55.1) (87.4)Non-upgraded bitumen production
279.5 288.4 254.3Total Oil Sands production
798.8 845.4 790.9Exploration and Production
76.4 63.6 62.3Total upstream production
875.2 909.0 853.2Upstream sales
872.1 905.5 828.4




Downstream



Refinery utilization(1) (%)
97 99 94Refinery crude oil processed
497.8 504.2 482.7Refined product sales
680.9 640.4 604.9 Total Oil Sands bitumen production of 933,900 bbls/d was comparable to the prior year quarter of 937,300 bbls/d and featured record quarterly production at Fort Hills. Current quarter bitumen production was also impacted by maintenance at Syncrude and the impact of a third-party natural gas input pipeline curtailment in the region.The company's net synthetic crude oil (SCO) production was 519,300 bbls/d with upgrader utilization of 96% in the first quarter of 2026, compared to 536,600 bbls/d and 102%, respectively, in the prior year quarter, as record quarterly SCO production at Oil Sands Base was offset by increased maintenance activities at Syncrude.Non-upgraded bitumen production increased to 279,500 bbls/d in the first quarter of 2026, compared to 254,300 bbls/d in the prior year quarter, primarily due to decreased upgrader availability.Upstream sales volumes increased to 872,100 bbls/d in the first quarter of 2026, compared to 828,400 bbls/d in the prior year quarter, which was consistent with the increase in upstream production volumes and the impact of a larger build in inventory in the prior year quarter.Exploration and Production (E&P) production increased to 76,400 bbls/d in the first quarter of 2026, compared to 62,300 bbls/d in the prior year quarter, and featured strong production at all assets.Refining throughput increased to a first quarter record of 497,800 bbls/d compared to 482,700 bbls/d in the prior year quarter due to incremental capacity additions resulting from debottlenecking activities and sustained strong operating performance through the current quarter. Refinery utilization(1) was 97% in the first quarter of 2026 and reflects the 10% increase in refining network nameplate capacity to 511,000 bbls/d effective January 1, 2026.Refined product sales increased to a quarterly record of 680,900 bbls/d, compared to 604,900 bbls/d in the prior year quarter, as Suncor capitalized on global export sales opportunities while continuing to deliver more domestic volumes through retail growth and strategic partnerships. Sales volumes reflected higher refinery production in the quarter, partially driven by higher secondary unit utilization.(1) Effective January 1, 2026, Suncor increased the nameplate capacity of its refining network by 10% from 466,000 bbls/d to 511,000 bbls/d. All prior quarter utilization rates have been restated to reflect this change.Corporate and Strategy Updates2026 projected share repurchases increased by over 30%. Subsequent to the quarter, Suncor increased its planned monthly share repurchases from $275 million per month to $350 million per month, projecting total 2026 share repurchases of nearly $4 billion for 2026, an increase of over 30% relative to 2025 share repurchases.Investor Day was held March 31, outlining Suncor's new three-year commitments. For further details, including the full transcript and presentation visit www.suncor.com.Investor Day highlights included:$2 billion increase in free funds flow (at US$65 WTI) by 2028.US$5 per barrel reduction in corporate WTI breakeven to US$38 per barrel by 2028.100,000 bbls/d of upstream production growth by 2028.10% increase in refining network nameplate capacity to 511,000 bbls/d.Corporate Guidance UpdatesSuncor has updated its 2026 corporate guidance ranges, previously released on December?11,?2025, reflecting a 10% increase in refining network nameplate capacity to 511,000?bbls/d, which resulted in refinery utilization guidance changing from 99%-102% to 90%-93%. Refinery throughput guidance remains unchanged at 460,000-475,000?bbls/d.For further details and advisories regarding Suncor's 2026 corporate guidance, see www.suncor.com/guidance.Non-GAAP Financial MeasuresCertain financial measures in this news release - namely adjusted funds from operations, adjusted operating earnings, free funds flow, net debt, and related per share or per barrel amounts - are not prescribed by GAAP. These non-GAAP financial measures are included because management uses the information to analyze business performance, leverage and liquidity, as applicable, and it may be useful to investors on the same basis. These non-GAAP financial measures do not have any standardized meaning and, therefore, are unlikely to be comparable to similar measures presented by other companies. Therefore, these non-GAAP financial measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Except as otherwise indicated, these non-GAAP financial measures are calculated and disclosed on a consistent basis from period to period. Specific adjusting items may only be relevant in certain periods.Adjusted Operating EarningsAdjusted operating earnings is a non-GAAP financial measure that adjusts net earnings for significant items that are not indicative of operating performance. Management uses adjusted operating earnings to evaluate operating performance because management believes it provides better comparability between periods. Adjusted operating earnings are reconciled to net earnings in the news release above.Adjusted Funds From (Used In) OperationsAdjusted funds from (used in) operations is a non-GAAP financial measure that adjusts a GAAP measure - cash flow provided by operating activities - for changes in non-cash working capital, which management uses to analyze operating performance and liquidity. Changes to non-cash working capital can be impacted by, among other factors, commodity price volatility, the timing of offshore feedstock purchases and payments for commodity and income taxes, the timing of cash flows related to accounts receivable and accounts payable, and changes in inventory, which management believes reduces comparability between periods.Three months ended March 31Oil SandsExploration and ProductionRefining and
MarketingCorporate and EliminationsIncome TaxesTotal($ millions)202620252026202520262025202620252026202520262025Earnings (loss) before income taxes 1 516 1 675 382 158 1 650 672 (722) (215) - - 2 826 2 290Adjustments for:











Depreciation, depletion and amortization 1 235 1 199 175 171 276 257 45 36 - - 1 731 1 663Accretion 130 124 19 16 4 3 - - - - 153 143Unrealized foreign exchange loss (gain) on U.S. dollar denominated debt - - - - - - 139 (14) - - 139 (14)Change in fair value of financial instruments and trading inventory 141 (68) (8) (6) 56 17 - - - - 189 (57)Gain on disposal of assets - - - - (6) - (7) - -
(13) -Share-based compensation (34) (86) (2) (6) (14) (40) (70) (171) - - (120) (303)Settlement of decommissioning and
restoration liabilities (140) (79) (5) (3) (13) (12) - - - - (158) (94)Other 46 45 1 - 28 5 (15) 15 - - 60 65Current income tax expense - - - - - - - - (777) (648) (777) (648)Adjusted funds from (used in) operations 2 894 2 810 562 330 1 981 902 (630) (349) (777) (648) 4 030 3 045Change in non-cash working capital









(1 595) (889)Cash flow provided by operating activities









2 435 2 156 Free Funds Flow (Deficit)Free funds flow (deficit) is a non-GAAP financial measure that is calculated by taking adjusted funds from operations and subtracting capital expenditures, including capitalized interest. Free funds flow reflects cash available for increasing distributions to shareholders and reducing debt. Management uses free funds flow to measure the capacity of the company to increase returns to shareholders and to grow Suncor's business.Three months ended March 31Oil SandsExploration and
ProductionRefining and
MarketingCorporate and
EliminationsIncome TaxesTotal($ millions)202620252026202520262025202620252026202520262025Adjusted funds from (used in) operations 2 894 2 810 562 330 1 981 902 (630) (349) (777) (648) 4 030 3 045Capital expenditures including capitalized interest (746) (749) (128) (209) (232) (180) (11) (7) - - (1 117) (1 145)Free funds flow (deficit) 2 148 2 061 434 121 1 749 722 (641) (356) (777) (648) 2 913 1 900 Net Debt and Total DebtNet debt and total debt are non-GAAP financial measures that management uses to analyze the financial condition of the company. Total debt includes short-term debt, current portion of long-term debt and long-term debt (all of which are GAAP measures). Net debt is equal to total debt less cash and cash equivalents (a GAAP measure).

March 31December 31($ millions, except as noted)
20262025Short-term debt
- -Current portion of long-term debt
979 973Long-term debt
9 134 9 014Total debt
10 113 9 987Less: Cash and cash equivalents
3 271 3 650Net debt
6 842 6 337Shareholders' equity
45 776 45 124Total debt plus shareholders' equity
55 889 55 111Total debt to total debt plus shareholders' equity (%)
18.1 18.1Net debt to net debt plus shareholders' equity (%)
13.0 12.3 Legal Advisory - Forward-Looking Information This news release contains certain forward-looking information and forward-looking statements (collectively referred to herein as "forward-looking statements") and other information based on Suncor's current expectations, estimates, projections and assumptions that were made by the company in light of 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; commodity prices and interest and foreign exchange rates; the performance of assets and equipment; uncertainty related to geopolitical conflict; 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. All statements and information that address expectations or projections about the future, and other statements and information about Suncor's strategy for growth, expected and future expenditures or investment decisions, commodity prices, costs, schedules, production volumes, operating and financial results, future financing and capital activities, and the expected impact of future commitments are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects", "anticipates", "will", "estimates", "plans", "scheduled", "intends", "believes", "projects", "indicates", "could", "focus", "vision", "goal", "outlook", "proposed", "target", "objective", "continue", "should", "may", "future", "potential", "opportunity", "would", "priority", "strategy" and similar expressions. Forward-looking statements in this news release include references to: Suncor's strategy, focus, goals and priorities and the expected benefits therefrom, Suncor's 2026 Investor Day targets and the expectation that Suncor will achieve its new three-year targets; and Suncor's projection of nearly $4 billion of share repurchases in 2026, an increase of over 30% relative to 2025 share repurchases. In addition, all other statements and information about Suncor's strategy for growth, expected and future expenditures or investment decisions, commodity prices, costs, schedules, production volumes, operating and financial results and the expected impact of future commitments are forward-looking statements. Some of the forward-looking statements and information may be identified by words like "expects", "anticipates", "will", "estimates", "plans", "scheduled", "intends", "believes", "projects", "indicates", "could", "focus", "vision", "goal", "outlook", "proposed", "target", "objective", "continue", "should", "may" and similar expressions.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; 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. Forward-looking statements and information 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. Suncor's actual results may differ materially from those expressed or implied by its forward-looking statements, so readers are cautioned not to place undue reliance on them.Suncor's Annual Information Form and Annual Report to Shareholders, each dated February 25, 2026, Form 40-F, Suncor's Report to Shareholders for the First Quarter of 2026 dated May 5, 2026, and other documents it 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. Copies of these documents are available by referring to suncor.com/FinancialReports or on SEDAR+ at sedarplus.ca or EDGAR at sec.gov. 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.To view a full copy of Suncor's first quarter 2026 Report to Shareholders and the financial statements and notes (unaudited), visit Suncor's profile on sedarplus.ca or sec.gov or visit Suncor's website at suncor.com/financialreports. To listen to the conference call discussing Suncor's first quarter results, visit suncor.com/webcasts. The event will be archived for 90 days.Suncor Energy - Canada's leading integrated energy company
Suncor's operations span the full energy value chain, including oil sands mining and in situ operations, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide Petro-Canada™ retail and wholesale networks - delivering reliable energy that fuels economic growth and meets the needs of customers across Canada and globally. With an unwavering focus on safety, operational excellence, and profitability, Suncor is committed to delivering industry-leading performance and long-term shareholder value. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.For more information, visit suncor.com or find us on LinkedIn, Instagram and Facebook.Media inquiries:
1-833-296-4570
media@suncor.comInvestor inquiries:
invest@suncor.comTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/296064 Original: Suncor Energy reports first quarter 2026 results

Suncor Energy declares dividendMay 5, 2026 5:00 PM
NewsfileAll financial figures are in Canadian dollars.Calgary, Alberta--(Newsfile Corp. - May 5, 2026) - Suncor Energy's (TSX: SU) (NYSE: SU) Board of Directors has approved a quarterly dividend of $0.60 per share on its common shares, payable June 25, 2026 to shareholders of record at the close of business on June 4, 2026.Suncor Energy - Canada's leading integrated energy company
Suncor's operations span the full energy value chain, including oil sands mining and in situ operations, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide Petro-Canada™ retail and wholesale networks - delivering reliable energy that fuels economic growth and meets the needs of customers across Canada and globally. With an unwavering focus on safety, operational excellence, and profitability, Suncor is committed to delivering industry-leading performance and long-term shareholder value. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.For more information, visit suncor.com or find us on LinkedIn, Instagram and Facebook.Media inquiries:
1-833-296-4570
media@suncor.comInvestor inquiries:
invest@suncor.comTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/296057 Original: Suncor Energy declares dividend

Suncor Energy to release first quarter 2026 financial resultsApril 21, 2026 5:00 PM
NewsfileCalgary, Alberta--(Newsfile Corp. - April 21, 2026) - Suncor Energy (TSX: SU) (NYSE: SU) will release its first quarter financial results on May 5, 2026 before 5:00 p.m. MT (7:00 p.m. ET).A webcast to review the first quarter will be held on May 6, 2026 at 7:30 a.m. MT (9:30 a.m. ET). A question and answer period with analysts will follow brief remarks from management.To listen to the webcast, please follow the instructions provided at https://www.suncor.com/en ca/investors/events-and-presentations. The event will be archived for 90 days.Suncor Energy - Canada's leading integrated energy company
Suncor's operations span the full energy value chain, including oil sands mining and in situ operations, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide Petro-Canada™ retail and wholesale networks - delivering reliable energy that fuels economic growth and meets the needs of customers across Canada and globally. With an unwavering focus on safety, operational excellence, and profitability, Suncor is committed to delivering industry-leading performance and long-term shareholder value. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.For more information, visit suncor.com or find us on LinkedIn, Instagram and Facebook.Media inquiries:
1-833-296-4570
media@suncor.comInvestor inquiries:
invest@suncor.comTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/293649
Original: Suncor Energy to release first quarter 2026 financial results

Suncor Energy increases shareholder returns, publishes 2026 Investor Day presentation; files contingent resources reportMarch 31, 2026 9:15 AM
NewsfileAll financial figures are in Canadian dollars, unless noted otherwise.Calgary, Alberta--(Newsfile Corp. - March 31, 2026) - Suncor Energy (TSX: SU) (NYSE: SU) published its 2026 Investor Day presentation which outlines a new 3-year improvement plan. As a result, Suncor is increasing its annual share repurchases by over 20% to a revised projection of $4B for 2026.Investor Day Highlights:$2 billion increase in normalized free funds flow by 2028US$5 per barrel reduction in corporate WTI breakeven to US$38 per barrel by 2028100,000 barrels per day of upstream production growth by 202810% increase in refining network nameplate capacity to 511,000 barrels per day11 billion barrel increase to contingent resources, total of 30 billion barrels with no exploration risk400,000 barrels per day of future production capacity at an average cost of $30,000 per flowing barrel The presentation is being webcast live and will be available for future viewing at https://www.suncor.com/en-ca/investors/events-and-presentations. Additionally, Suncor Energy has filed a report disclosing its contingent resources which can be found on Suncor's profile on sedarplus.ca, sec.gov, or on Suncor's website at suncor.com/financialreports.Suncor Energy - Canada's leading integrated energy company Suncor's operations span the full energy value chain, including oil sands mining and in situ operations, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide Petro-Canada™ retail and wholesale networks - delivering reliable energy that fuels economic growth and meets the needs of customers across Canada and globally. With an unwavering focus on safety, operational excellence, and profitability, Suncor is committed to delivering industry-leading performance and long-term shareholder value. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.For more information, visit suncor.com or find us on LinkedIn, Instagram and Facebook.Media inquiries:
1-833-296-4570
media@suncor.comInvestor inquiries:
invest@suncor.comLegal Advisory - Forward-Looking Information
Forward-looking statements in this news release include statements about share repurchases, including the amount and timing of such repurchases, upstream production growth by 2028, increases in normalized free funds flow by 2028, US$5 per barrel reduction to WTI breakeven by 2028, the amount and viability of oil sands contingent resources and the amount and cost of 400,000 barrels per day of new production capacity. Forward-looking statements and information 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. Suncor's actual results may differ materially from those expressed or implied by its forward-looking statements, so readers are cautioned not to place undue reliance on them. Suncor's Annual Information Form and Annual Report to Shareholders, each dated February 25, 2026, its Form 40-F dated February 26, 2026 and other documents it 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. Copies of these documents are available by referring to suncor.com/FinancialReports or to the company's profile on SEDAR+ at sedarplus.ca or EDGAR at sec.gov. 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. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290570
Original: Suncor Energy increases shareholder returns, publishes 2026 Investor Day presentation; files contingent resources report

Suncor Energy to hold 2026 Investor DayMarch 17, 2026 5:00 PM
NewsfileCalgary, Alberta--(Newsfile Corp. - March 17, 2026) - Suncor Energy (TSX: SU) (NYSE: SU) will?hold its 2026 Investor Day on?March 31, 2026?at?7:30?a.m. MT (9:30?a.m. ET).? At the event, Suncor's executive leadership team will highlight the company's near-term priorities and long-term strategic outlook. To listen to the webcast, please follow the instructions provided at https://www.suncor.com/en-ca/investors/events-and-presentations. The event will be archived for 90 days.?Suncor Energy - Canada's leading integrated energy company
Suncor's operations span the full energy value chain, including oil sands mining and in situ operations, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide Petro-Canada™ retail and wholesale networks - delivering reliable energy that fuels economic growth and meets the needs of customers across Canada and globally. With an unwavering focus on safety, operational excellence, and profitability, Suncor is committed to delivering industry-leading performance and long-term shareholder value. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.For more information, visit suncor.com or find us on LinkedIn, Instagram and Facebook.Media inquiries:
1-833-296-4570
media@suncor.comInvestor inquiries:
invest@suncor.comTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/288882
Original: Suncor Energy to hold 2026 Investor Day

Suncor Energy files annual disclosure documents and renews NCIBFebruary 26, 2026 5:00 PM
NewsfileAll financial figures are in Canadian dollars, unless noted otherwise.Calgary, Alberta--(Newsfile Corp. - February 26, 2026) - Suncor Energy (TSX: SU) (NYSE: SU) has filed its 2025 Annual Report, 2025 Annual Information Form and 2026 Management Proxy Circular.To view the company's annual disclosure documents, visit Suncor's profile on sedarplus.ca or sec.gov or visit Suncor's website at suncor.com/financialreports.Normal Course Issuer Bid (NCIB)
Additionally, the Toronto Stock Exchange (TSX) has accepted a notice filed by Suncor to renew its NCIB to purchase the company's common shares through the facilities of the TSX, New York Stock Exchange and/or alternative trading systems in Canada and the U.S. The notice provides that, beginning March 3, 2026, and ending March 2, 2027, Suncor may purchase for cancellation up to 118,700,000 common shares, which is equal to approximately 10% of Suncor's public float of 1,187,545,672 common shares as of February 18, 2026. On February 18, 2026, Suncor had 1,187,814,362 common shares issued and outstanding. The actual number of common shares that may be purchased under the NCIB and the timing of any such purchases will be determined by Suncor. Suncor believes that, depending on the trading price of its common shares and other relevant factors, purchasing its own shares represents an attractive investment opportunity and is in the best interests of the company and its shareholders. The company does not expect the decision to allocate cash to repurchase shares will affect its long-term strategy. Pursuant to Suncor's previous NCIB, Suncor agreed that it would not purchase more than 123,800,000 common shares between March 3, 2025, and March 2, 2026. Between March 3, 2025, and February 24, 2026, and pursuant to Suncor's previous NCIB, Suncor repurchased 54,150,911 shares on the open market for approximately $3.075 billion, at a weighted average price of $56.79 per share.Subject to the block purchase exemption that is available to Suncor for regular open market purchases under the NCIB, Suncor will limit daily purchases of Suncor common shares on the TSX in connection with the NCIB to no more than 25% (1,776,141 common shares) of the average daily trading volume of Suncor's common shares on the TSX during the previous six-month period (7,104,566 common shares). Purchases under the NCIB will be made through open market purchases at market price, as well as by other means as may be permitted by securities regulatory authorities. Suncor expects to enter into an automatic share purchase plan in relation to purchases made in connection with the NCIB on March 3, 2026.Legal Advisory - Forward-Looking Information
This news release contains certain forward-looking information and forward-looking statements (collectively referred to herein as "forward-looking statements") and other information based on Suncor's current expectations, estimates, projections and assumptions that were made by the company in light of information available at the time the statement was made and consider Suncor's experience and its perception of historical trends.Forward-looking statements in this news release include statements about the NCIB, including the amount, timing and manner of purchases under the NCIB, that depending on the trading price of its common shares and other relevant factors, repurchasing its common shares represents an attractive investment opportunity and is in the best interest of the company and its shareholders, the expectation that the decision to allocate cash to repurchase shares will not affect its long-term strategy and the expectation that Suncor will enter into an automatic share purchase plan related to purchases made in connection with the NCIB. Forward-looking statements and information 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. Suncor's actual results may differ materially from those expressed or implied by its forward-looking statements, so readers are cautioned not to place undue reliance on them. Suncor's Annual Information Form and Annual Report to Shareholders, each dated February 25, 2026, its Form 40-F dated February 26, 2026 and other documents it 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. Copies of these documents are available without charge from Suncor at 150 6th Avenue S.W., Calgary, Alberta T2P 3E3 or by referring to suncor.com/FinancialReports or to the company's profile on SEDAR+ at sedarplus.ca or EDGAR at sec.gov. 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.Suncor Energy - Canada's leading integrated energy company
Suncor's operations span the full energy value chain, including oil sands mining and in situ operations, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide Petro-Canada™ retail and wholesale networks - delivering reliable energy that fuels economic growth and meets the needs of customers across Canada and globally. With an unwavering focus on safety, operational excellence, and profitability, Suncor is committed to delivering industry-leading performance and long-term shareholder value. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.For more information, visit suncor.com or find us on LinkedIn, Instagram and Facebook.Media inquiries:
1-833-296-4570
media@suncor.comInvestor inquiries:
invest@suncor.comTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/285526
Original: Suncor Energy files annual disclosure documents and renews NCIB

Suncor Energy reports fourth quarter 2025 resultsFebruary 3, 2026 5:15 PM
NewsfileUnless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and derived from the company's condensed consolidated financial statements which are based on Canadian generally accepted accounting principles (GAAP), specifically International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), and are prepared in accordance with International Accounting Standard (IAS) 34 Interim Financial Reporting. Production volumes are presented on a working-interest basis, before royalties, except for production values from the company's Libya operations, which are presented on an economic basis. Certain financial measures referred to in this news release (adjusted funds from operations, adjusted operating earnings, free funds flow, normalized free funds flow, and net debt) are not prescribed by Canadian generally accepted accounting principles (GAAP). See the Non-GAAP Financial Measures section of this news release. References to Oil Sands operations exclude Suncor Energy Inc.'s ownership of Fort Hills and interest in Syncrude.Calgary, Alberta--(Newsfile Corp. - February 3, 2026) - Suncor Energy (TSX: SU) (NYSE: SU)Fourth Quarter HighlightsGenerated $3.2 billion in adjusted funds from operations and $1.7 billion in free funds flow.Returned approximately $1.5 billion to shareholders, with $775 million in share repurchases and $719 million in dividends.Record quarterly upstream production of 909,000 barrels per day (bbls/d), 34,000 bbls/d higher than the prior year quarter.Record quarterly refining throughput of 504,000 bbls/d, 18,000 bbls/d higher than the prior year quarter.Record quarterly asset utilization levels, with upgraders at 106% and refineries at 108%."Suncor's record fourth quarter contributed to another record-breaking year, which also saw the company achieve its 2024 Investor Day targets a full year early, demonstrating our focus on best-ever safety results, best-in-class execution and operational excellence," said Rich Kruger, President and Chief Executive Officer. "As we look ahead to 2026, Suncor is poised to build on this momentum and deliver superior shareholder value and resilient cash flows, powered by one of the industry's most integrated and high-performing asset portfolios."Annual 2025 HighlightsGenerated $12.8 billion in adjusted funds from operations and $6.9 billion in free funds flow.Returned approximately $5.8 billion to shareholders, with $3.0 billion in share repurchases and $2.8 billion in dividends.Record upstream production of 860,000 bbls/d, 33,000 bbls/d higher than 2024, included record upgrader utilization of 99%.Record refining throughput of 480,000 bbls/d, 15,000 bbls/d higher than 2024, included record refinery utilization of 103%.Record refined product sales of 623,000 bbls/d, 23,000 bbls/d higher than 2024.Suncor achieved its ambitious 2024 Investor Day three-year targets a full year ahead of schedule. These targets included:Increase in normalized free funds flow of $3.3 billion per year.Reduction in corporate WTI breakeven of US$10 per barrel. Increase in upstream production of 100,000 bbls/day.Reduce annual capital expenditures to $5.7 billion. Achieved net debt target of $8 billion, with 100% of excess funds to shareholders thereafter.Fourth Quarter Results




Financial Highlights
Q4 Q3 Q4 ($ millions, unless otherwise noted)
202520252024Net earnings
1 476 1 619 818Per common share(1) (dollars)
1.23 1.34 0.65Adjusted operating earnings(2)
1 325 1 794 1 566Per common share(1)(2) (dollars)
1.10 1.48 1.25Adjusted funds from operations(2)
3 218 3 831 3 493Per common share(1)(2) (dollars)
2.68 3.16 2.78Cash flow provided by operating activities
3 921 3 785 5 083Per common share(1) (dollars)
3.27 3.13 4.05Capital expenditures(3)
1 483 1 439 1 498Free funds flow(2)
1 699 2 347 1 923Dividend per common share(1) (dollars)
0.60 0.57 0.57Share repurchases per common share(4) (dollars)
0.65 0.62 0.64Returns to shareholders(5)
1 494 1 438 1 713Operating, selling and general expenses
3 518 3 270 3 411Net debt(2)
6 337 7 147 6 861






Q4 Q3 Q4 Operating Highlights
202520252024Total upstream production (mbbls/d)
909.0870.0875.0Refinery utilization (%)
108 106 104 (1) Presented on a basic per share basis.
(2) Non-GAAP financial measures or contains non-GAAP financial measures. See the Non-GAAP Financial Measures section of this news release.
(3) Excludes capitalized interest.
(4) Calculated as the cost of share repurchases, excluding taxes paid on share repurchases, divided by the weighted average number of shares outstanding.
(5) Includes dividends paid on common shares and repurchases of common shares; excludes taxes paid on common share repurchases.Financial ResultsAdjusted Operating Earnings Reconciliation(1)
Q4 Q3 Q4 ($ millions)
202520252024Net earnings
1 476 1 619 818Unrealized foreign exchange (gain) loss on U.S. dollar denominated debt
(114) 186 514Unrealized loss (gain) on risk management activities
7 5 (16)(Provision reversal) and write-down of equity investment
(66) - 212Loss on early repayment of long-term debt
- - 144Income tax expense (recovery) on adjusted operating earnings adjustments
22 (16) (106)Adjusted operating earnings(1)
1 325 1 794 1 566 (1) Non-GAAP financial measure. All reconciling items are presented on a before-tax basis and adjusted for income taxes in the income tax expense (recovery) on adjusted operating earnings adjustments line. See the Non-GAAP Financial Measures section of this news release.Suncor's adjusted operating earnings were $1.325 billion ($1.10 per common share) in the fourth quarter of 2025, compared to $1.566 billion ($1.25 per common share) in the prior year quarter, with the decrease primarily due to lower upstream price realizations net of decreased royalties, and a foreign exchange loss on working capital items compared to a gain in the prior year quarter, partially offset by increased refinery margins and increased upstream production, downstream throughput and sales volumes.Net earnings were $1.476 billion ($1.23 per common share) in the fourth quarter of 2025, compared to $818 million ($0.65 per common share) in the prior year quarter. In addition to the factors impacting adjusted operating earnings, net earnings for the fourth quarter of 2025 and the prior year quarter were impacted by the items shown in the table above.Adjusted funds from operations were $3.218 billion ($2.68 per common share) in the fourth quarter of 2025, compared to $3.493 billion ($2.78 per common share) in the prior year quarter, and were primarily influenced by the same factors impacting adjusted operating earnings.Cash flow provided by operating activities, which includes changes in non-cash working capital, were $3.921 billion ($3.27 per common share) in the fourth quarter of 2025, compared to $5.083 billion ($4.05 per common share) in the prior year quarter. Operating, selling and general (OS&G) expenses were $3.518 billion in the fourth quarter of 2025, compared to $3.411 billion in the prior year quarter, with the increase primarily due to higher commodity input costs. Operations, selling and corporate costs remained relatively flat despite higher production and sales volumes in both upstream and downstream.Operating Results

Q4 Q3 Q4 (mbbls/d, unless otherwise noted)
202520252024Upstream



Total Oil Sands bitumen production
992.7 958.3 951.5SCO and diesel production
586.8 571.2 572.5Inter-asset transfers and consumption
(29.8) (27.1) (28.9)Upgraded production - net SCO and diesel
557.0 544.1 543.6Bitumen production
343.5 334.6 342.6Inter-asset transfers
(55.1) (66.5) (68.7)Non-upgraded bitumen production
288.4 268.1 273.9Total Oil Sands production
845.4 812.2 817.5Exploration and Production
63.6 57.8 57.5Total upstream production
909.0 870.0 875.0Upstream sales
905.5 887.2 865.4




Downstream



Refinery utilization (%)
108 106 104Refinery crude oil processed
504.2 491.7 486.2Refined product sales
640.4 646.8 613.3 Total Oil Sands bitumen production increased to a quarterly record of 992,700 bbls/d, compared to 951,500 bbls/d in the prior year quarter, primarily due to strong mining performance, and included record fourth quarter production at Fort Hills, which achieved 90% of nameplate capacity in 2025 delivering on the three-year mine improvement plan.The company's net synthetic crude oil (SCO) production increased to a quarterly record of 557,000 bbls/d, compared to 543,600 bbls/d in the prior year quarter, as the company's production mix benefited from increased upgrader availability due to decreased planned maintenance activities in the current quarter and continued strong upgrader reliability.Non-upgraded bitumen production increased to 288,400 bbls/d in the fourth quarter of 2025, compared to 273,900 bbls/d in the prior year quarter, primarily due to record bitumen production, partially offset by increased upgrader availability.Exploration and Production (E&P) production increased to 63,600 bbls/d in the fourth quarter of 2025, compared to 57,500 bbls/d in the prior year quarter, and included increased production at Hebron and the addition of production at White Rose, which restarted in the first quarter of 2025.Refining throughput increased to a quarterly record of 504,200 bbls/d with refinery utilization of 108%, compared to 486,200 bbls/d and 104%, respectively in the prior year quarter. The increase was primarily due to continued strong operating performance through the current quarter, which saw all four refineries exceed 100% utilization.Refined product sales increased to a fourth quarter record of 640,400 bbls/d, compared to 613,300 bbls/d in the prior year quarter, primarily due to higher refinery production and continued investment in retail growth, as well as leveraging strategic partnerships.Corporate and Strategy UpdatesShare repurchases increased by 10% per month. In 2026, it is expected that 100% of excess funds will continue to be returned to shareholders highlighted by a 10% increase in share repurchases to $275 million per month from $250 million per month as of December 2025, projecting $3.3 billion of share repurchases for 2026.Quarterly dividend increased. Suncor increased its quarterly dividend by approximately 5% to $0.60 per common share.Corporate Guidance UpdatesThere have been no changes to the 2026 corporate guidance ranges previously released on December 11, 2025.For further details and advisories regarding Suncor's 2026 corporate guidance, see www.suncor.com/guidance.Normal Course Issuer Bid (NCIB)


MaximumMaximumNumber of
Commencement
SharesSharesShares(thousands of common shares)DateExpiryfor RepurchaseRepurchase (%)Repurchased2023 NCIBFebruary 17, 2023February 16, 2024 132 900 10 47 1072024 NCIBFebruary 26, 2024February 25, 2025 128 700 10 61 0662025 NCIBMarch 3, 2025March 2, 2026 123 800 10 50 475 Suncor's current NCIB will terminate on March 2, 2026. The company intends to renew the NCIB program subsequent to the expiration of its current NCIB.Between March 3, 2025 and January 30, 2026, pursuant to Suncor's current NCIB, Suncor repurchased 50,474,677 common shares on the open market, representing the equivalent of 4.1% of its common shares as at February 18, 2025, for $2.8 billion, at a weighted average price of $55.46 per common share. The actual number of common shares that may be repurchased under the NCIB and the timing of any such repurchases will be determined by Suncor. The company believes that, depending on the trading price of its common shares and other relevant factors, repurchasing its own shares represents an attractive investment opportunity and is in the best interests of the company and its shareholders. The company does not expect the decision to allocate cash to repurchase shares will affect its long-term strategy.Governance UpdateJennifer Kneale was appointed to Suncor's Board of Directors on February 3, 2026 and is a member of both the audit committee and the environment, health, safety and sustainable development committee. She is currently the President of Targa Resources Corp., an integrated midstream company headquartered in Houston, Texas. Prior to joining Targa, Ms. Kneale spent more than 10 years in the financial services industry, primarily in roles in private equity, asset management and investment banking.Non-GAAP Financial MeasuresCertain financial measures in this news release - namely adjusted funds from operations, adjusted operating earnings, free funds flow, normalized free funds flow and net debt, and related per share or per barrel amounts - are not prescribed by GAAP. These non-GAAP financial measures are included because management uses the information to analyze business performance, leverage and liquidity, as applicable, and it may be useful to investors on the same basis. These non-GAAP financial measures do not have any standardized meaning and, therefore, are unlikely to be comparable to similar measures presented by other companies. Therefore, these non-GAAP financial measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Except as otherwise indicated, these non-GAAP financial measures are calculated and disclosed on a consistent basis from period to period. Specific adjusting items may only be relevant in certain periods.Adjusted Operating EarningsAdjusted operating earnings is a non-GAAP financial measure that adjusts net earnings for significant items that are not indicative of operating performance. Management uses adjusted operating earnings to evaluate operating performance because management believes it provides better comparability between periods. Adjusted operating earnings are reconciled to net earnings in the news release above.Adjusted Funds From (Used In) OperationsAdjusted funds from (used in) operations is a non-GAAP financial measure that adjusts a GAAP measure - cash flow provided by operating activities - for changes in non-cash working capital, which management uses to analyze operating performance and liquidity. Changes to non-cash working capital can be impacted by, among other factors, commodity price volatility, the timing of offshore feedstock purchases and payments for commodity and income taxes, the timing of cash flows related to accounts receivable and accounts payable, and changes in inventory, which management believe reduces comparability between periods.Three months ended December 31Oil SandsExploration and ProductionRefining and
MarketingCorporate and EliminationsIncome TaxesTotal($ millions)202520242025202420252024202520242025202420252024Earnings (loss) before income taxes 1 120 1 625 61 125 895 410 (69) (1 070) - - 2 007 1 090Adjustments for:











Depreciation, depletion, amortization and impairment 1 339 1 390 150 162 290 269 34 30 - - 1 813 1 851Accretion 124 128 17 17 3 3 - - - - 144 148Unrealized foreign exchange (gain) loss on U.S. dollar denominated debt - - - - - - (114) 514 - - (114) 514Change in fair value of financial instruments and trading inventory (136) 1 (1) (7) (9) (53) - - - - (146) (59)(Gain) loss on disposal of assets (36) (6) - - (3) (5) 1 (1) - - (38) (12)Loss on extinguishment of long-term debt - - - - - - - 144 - - - 144Share-based compensation 57 55 3 4 23 26 41 69 - - 124 154Settlement of decommissioning and
restoration liabilities (113) (95) (17) (24) (22) (20) - - - - (152) (139)Other 51 28 1 (3) (3) 8 (1) 183 - - 48 216Current income tax expense - - - - - - - - (468) (414) (468) (414)Adjusted funds from (used in) operations 2 406 3 126 214 274 1 174 638 (108) (131) (468) (414) 3 218 3 493Change in non-cash working capital









703 1 590Cash flow provided by operating activities









3 921 5 083 


Exploration andRefining andCorporate and



Twelve months ended December 31Oil SandsProductionMarketingEliminationsIncome TaxesTotal($ millions)202520242025202420252024202520242025202420252024Earnings (loss) before income taxes 5 277 6 607 526 867 2 822 2 596 (677) (1 883) - - 7 948 8 187Adjustments for:











Depreciation, depletion, amortization and impairment 5 047 5 134 649 707 1 082 996 138 117 - - 6 916 6 954Accretion 498 514 65 67 13 11 - - - - 576 592Unrealized foreign exchange (gain) loss on U.S. dollar denominated debt - - - - - - (403) 714 - - (403) 714Change in fair value of financial instruments and trading inventory (111) (117) (3) 3 8 (8) - - - - (106) (122)Gain on disposal of assets (36) (15) - - (19) (8) - (2) - - (55) (25)Loss on extinguishment of long-term debt - - - - - - - 170 - - - 170Share-based compensation 37 (47) 1 12 17 (20) (47) (2) - - 8 (57)Settlement of decommissioning and restoration liabilities (385) (385) (47) (47) (73) (56) - - - - (505) (488)Other 188 151 4 1 57 27 95 207 - - 344 386Current income tax expense - - - - - - - - (1 940) (2 465) (1 940) (2 465)Adjusted funds from (used in) operations 10 515 11 842 1 195 1 610 3 907 3 538 (894) (679) (1 940) (2 465) 12 783 13 846Change in non-cash working capital









(2) 2 114Cash flow provided by operating activities









12 781 15 960 Free Funds FlowFree funds flow is a non-GAAP financial measure that is calculated by taking adjusted funds from operations and subtracting capital expenditures, including capitalized interest. Free funds flow reflects cash available for increasing distributions to shareholders and reducing debt. Management uses free funds flow to measure the capacity of the company to increase returns to shareholders and to grow Suncor's business.


Exploration andRefining andCorporate and



Three months ended December 31Oil SandsProductionMarketingEliminationsIncome TaxesTotal($ millions)202520242025202420252024202520242025202420252024Adjusted funds from (used in) operations 2 406 3 126 214 274 1 174 638 (108) (131) (468) (414) 3 218 3 493Capital expenditures including capitalized interest (1 013) (941) (177) (255) (316) (352) (13) (22) - - (1 519) (1 570)Free funds flow (deficit) 1 393 2 185 37 19 858 286 (121) (153) (468) (414) 1 699 1 923 















Exploration andRefining andCorporate and



Twelve months ended December 31Oil SandsProductionMarketingEliminationsIncome TaxesTotal($ millions)202520242025202420252024202520242025202420252024Adjusted funds from (used in) operations 10 515 11 842 1 195 1 610 3 907 3 538 (894) (679) (1 940) (2 465) 12 783 13 846Capital expenditures including capitalized interest (3 869) (4 340) (797) (907) (1 148) (1 190) (42) (46) - - (5 856) (6 483)Free funds flow (deficit) 6 646 7 502 398 703 2 759 2 348 (936) (725) (1 940) (2 465) 6 927 7 363 Normalized Free Funds FlowNormalized free funds flow is a non-GAAP financial measure that is calculated by normalizing free funds flow for a US$75 WTI price environment. Management uses normalized free funds flow to compare free funds flow in a constant price environment.Twelve months ended December 31



($ millions)
202520242023Free funds flow - reported
6 927 7 363 7 497Adjust for business environment impacts(1)
1 779 140 (1 559)Adjust for non-structural items, including tax adjustments
(230) (130) (880)Free funds flow - normalized
8 476 7 373 5 058 (1) 2025 results have been normalized to US$75 WTI business environment assumptions, based on annual AFFO sensitivities including: +$210M per US$1/bbl WTI increase; +$50M per US$1/bbl SYN - WTI increase; +$0M per US$1/bbl WCS - WTI increase; +$170M per US$1/bbl NYH 2-1-1 increase; +$230M per C$1/GJ AECO decrease; +$135M per C$20/MWh Alberta Power Pool Price increase;+$240M per US$0.01/C$ decrease.Net Debt and Total DebtNet debt and total debt are non-GAAP financial measures that management uses to analyze the financial condition of the company. Total debt includes short-term debt, current portion of long-term debt and long-term debt (all of which are GAAP measures). Net debt is equal to total debt less cash and cash equivalents (a GAAP measure).

December 31December 31($ millions, except as noted)
20252024Short-term debt
- -Current portion of long-term debt
973 997Long-term debt
9 014 9 348Total debt
9 987 10 345Less: Cash and cash equivalents
3 650 3 484Net debt
6 337 6 861Shareholders' equity
45 124 44 514Total debt plus shareholders' equity
55 111 54 859Total debt to total debt plus shareholders' equity (%)
18.1 18.9Net debt to net debt plus shareholders' equity (%)
12.3 13.4 Legal Advisory - Forward-Looking Information This news release contains certain forward-looking information and forward-looking statements (collectively referred to herein as "forward-looking statements") and other information based on Suncor's current expectations, estimates, projections and assumptions that were made by the company in light of 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; commodity prices and interest and foreign exchange rates; the performance of assets and equipment; uncertainty related to geopolitical conflict; 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. All statements and information that address expectations or projections about the future, and other statements and information about Suncor's strategy for growth, expected and future expenditures or investment decisions, commodity prices, costs, schedules, production volumes, operating and financial results, future financing and capital activities, and the expected impact of future commitments are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects", "anticipates", "will", "estimates", "plans", "scheduled", "intends", "believes", "projects", "indicates", "could", "focus", "vision", "goal", "outlook", "proposed", "target", "objective", "continue", "should", "may", "future", "potential", "opportunity", "would", "priority", "strategy" and similar expressions. Forward-looking statements in this news release include references to: Suncor's strategy, focus, goals and priorities and the expected benefits therefrom, Suncor's belief that it will deliver superior shareholder value and resilient cash flows and the basis for such belief; the expectation that Suncor will continue to return 100% of excess funds to shareholders in 2026; Suncor's projection of $3.3 billion of share repurchase in 2026;and statements about the company's NCIB, including the expectation that the company intends to renew the NCIB program subsequent to the expiration of its current NCIB, its belief that, depending on the trading price of its common shares and other relevant factors, that repurchasing its own shares represents an attractive investment opportunity and is in the best interests of the company and its shareholders and its expectation that its decision to allocate cash to repurchase shares will not affect its long-term strategy. In addition, all other statements and information about Suncor's strategy for growth, expected and future expenditures or investment decisions, commodity prices, costs, schedules, production volumes, operating and financial results and the expected impact of future commitments are forward-looking statements. Some of the forward-looking statements and information may be identified by words like "expects", "anticipates", "will", "estimates", "plans", "scheduled", "intends", "believes", "projects", "indicates", "could", "focus", "vision", "goal", "outlook", "proposed", "target", "objective", "continue", "should", "may" and similar expressions.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; 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. Forward-looking statements and information 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. Suncor's actual results may differ materially from those expressed or implied by its forward-looking statements, so readers are cautioned not to place undue reliance on them.Suncor's Annual Information Form, Annual Report to Shareholders and Form 40-F, each dated February 26, 2025, Suncor's Report to Shareholders for the Fourth Quarter of 2025 dated February 3, 2026, and other documents it 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. Copies of these documents are available by referring to suncor.com/FinancialReports or on SEDAR+ at sedarplus.ca or EDGAR at sec.gov. 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.To view a full copy of Suncor's fourth quarter 2025 Report to Shareholders and the financial statements and notes (unaudited), visit Suncor's profile on sedarplus.ca or sec.gov or visit Suncor's website at suncor.com/financialreports. To listen to the conference call discussing Suncor's fourth quarter results, visit suncor.com/webcasts. The event will be archived for 90 days.Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development, production and upgrading; offshore oil production; petroleum refining in Canada and the U.S.; and the company's Petro-CanadaTM retail and wholesale distribution networks (including Canada's Electric HighwayTM, a coast-to-coast network of fast-charging EV stations). Suncor is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. Suncor also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.For more information about Suncor, visit our web site at suncor.com.Media inquiries:
833-296-4570
media@suncor.comInvestor inquiries:
invest@suncor.com To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282589
Original: Suncor Energy reports fourth quarter 2025 results

Suncor Energy declares dividendFebruary 3, 2026 5:00 PM
NewsfileAll financial figures are in Canadian dollars.Calgary, Alberta--(Newsfile Corp. - February 3, 2026) - Suncor Energy's (TSX: SU) (NYSE: SU) Board of Directors has approved a quarterly dividend of $0.60 per share on its common shares, payable March 25, 2026 to shareholders of record at the close of business on March 4, 2026.Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development, production and upgrading; offshore oil production; petroleum refining in Canada and the U.S.; and the company's Petro-CanadaTM retail and wholesale distribution networks (including Canada's Electric HighwayTM, a coast-to-coast network of fast-charging EV stations). Suncor is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. Suncor also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges. For more information about Suncor, visit our website at suncor.com.Media inquiries:
(833) 296-4570
media@suncor.comInvestor inquiries:
invest@suncor.comTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/282586
Original: Suncor Energy declares dividend

These 3 Canadian Stocks Could Triple in 5 Years https://ca.finance.yahoo.com/news/3-canadian-stocks-could-triple-021500201.html $SU

the oilsands was once a boom to FT. MCMURRAY

THE RUSSANS are capitalizing on NATURAL GAS

need to call the number one guy

Trouble in Brazil ----

Senior Oil and Gas Trader and Brazil-Based Intermediary Charged in Bribery and Money Laundering Scheme

Kazakhstan has delayed the startup of crude oil exports from its giant Tengiz oilfield by way of the Baku-Tbilisi-Ceyhan pipeline, four sources told Reuters on Friday.

Kazakhstan energy company Kazmunaigaz (KMG) has pushed back the restart of crude oil exports from the giant Tengiz oilfield after BP declared force majeure on crude oil loadings from the Ceyhan port.

"Force majeure was declared in Ceyhan, and (Tengiz) crude supplies to BTC were put on hold," a market source told Reuters.

heard it on BNN reports-----that the company will buy back or lots of shares

It’s good to hear. I need more shares to round out my position

Suncor has management issues---- chart says it will/wants to go lower

Yes no kidding. They’re making tons of $$ and buying back their stock. This is a safe investment with quite a bit of upside.

This stock is a no brainer. We'll see $30/s before years end.

Not many people here. Seems like free money at this point with the lag behind other oil companies.

Loading Here

Picked up 700 $SU today.

News was not good---caused lots to sell---this was a mini - sQueeze

Happy Holidays and Merry Christmas.

Here's to a 2020 with Health, Wealth and Happiness.

God Bless America.

Cheers!

I may have the wrong spot to bring out a grievance with this company. I live in a community in Southen Alberta and not far from me there is a beautiful coulee setting where a reservoir was constructed some time ago. The North end of the reservoir has a very industrial look due to the dam that was built. The south end had a very natural look when looking up from the waters edge along its coulee walls last year. Can’t say the same anymore.

Suncor and partners and I don’t understand the actual structure or interest in the groups has decided to build an energy wind farm to the east of the Forty Mile coulee walls. I’m not opposed to industry it’s something we live and see every where we go on the prairies but there are those few sanctuaries tucked down in between coulee walls that takes you away from work and the site of industry being every where you go on the prairies.

If they had made a buffer zone for there wind farm from the edge of the coulee so the industrial wind farm would of been out of site from the waters edge I wouldn’t be writing this. We don’t have many special areas like the Forty Mile reservoir and why would Suncor and there interested groups want to ruin that for so many living along the number three corridor from Medicine Hat too Lethbridge Alberta.

I’m asking the south end of the reservoir to be free of the site of the wind mills from the bottom of the coulee while relaxing on the water. It’s a very special escape for me and close to home. To find another like it I would having to make a two hour drive. I can only speak for my self but what is happening there at the Forty Mile reservoir is in my opinion a real shame.

Maybe the voice of the shareholders could bring notice to what is happening there.

Is possibly (likely ?) just ALL algorithms . . . . taking advantage of.....circumstances.









Artificial Intelligence - knows what to look for - (as well as what to CREATE)....

Of course it's been programmed by "technical analysts" - by humans such as myself.


A Sewer worker / Ironworker / Groundskeeper Analyst

$SU Suncor Energy (NYSE:SU) announces better than expected Q4 earnings and a 12.5% increase in its quarterly dividend to $0.36/share.

SU reports Q4 operating profit of C$0.79/share, ahead of the C$0.72 analyst consensus estimate and above C$0.38 in the same quarter a year ago, and funds from operations hit a quarterly record $3B, well above the $2.4B in Q4 2016.

SU says Q4 production from Alberta’s oil sands rose 3.1% Y/Y to 446.8K bbl/day while operating cash costs fell to C$24.20/bbl vs. C$24.95/bbl in the year-ago period, and the company's share of production at the Syncrude joint venture fell 6.7% to 174.4K bbl/day while operating cash costs edged up to C$32.80/bbl vs. C$32.55/bbl a year ago.

"With Fort Hills and Hebron both successfully commissioned and now producing oil, the safe and steady ramp-up of production is proceeding as planned," CEO Steve Williams says.

Syncrude starts crude shipments from Mildred Lake upgrader

Suncor Energy (SU +0.3%) says the Syncrude Canada oil sands project has resumed shipping crude from its Mildred Lake upgrader after cutting production due to a fire at the plant in March.

SU says shipments are currently at 140K bbl/day and should ramp up to full rates of 350K bbl/day in June, which is in line with its previous forecasts, as maintenance on other units wraps up.

Suncor maintains 2017 production guidance despite Syncrude outage

Suncor Energy (NYSE:SU) says it does not expect a change to overall 2017 production guidance from the current outage at the Syncrude plant in Alberta, as strong production from oil sands and offshore operations should offset the impact.

SU says the damage at Syncrude largely was isolated to a piperack adjacent to the hydrotreater, and it has developed an accelerated repair schedule to achieve restart of pipeline shipments at ~50% capacity in early May and full production rates by the end of June.

Syncrude has the capacity to produce 350K bbl/day, but production in April was cut to zero and brought forward planned maintenance after a fire that damaged the facility.

Suncor Energy added to Conviction Buy List at Goldman
Suncor Energy (SU +1.7%) is higher after Goldman Sachs adds the stock to its Conviction Buy List and assigns a $38 price target, forecasting that revenue from its new Hebron field and Fort Hills projects will mean more production and cash flow.
Goldman believes SU has the ability to not just break even, but generate "strong" free cash flow, perhaps even at lower oil prices following the company's strides in lowering its cost of production in recent years; the firm thinks SU would apply the cash to stock buybacks and dividend hikes.
Even with the cost advantage, Goldman believes investors are undervaluing SU shares, and that the stock trades at an attractive discount to peers.
Other Goldman favorites among oil and gas producers and refiners are Marathon Petroleum, Valero Energy, Husky Energy and Chevron.

Syncrude cuts April production to zero, opens door for Mexico
Canadian crude shipments to the U.S. are poised to shrink after the Syncrude oil sands project tells customers they will not receive any supply during April from its 350K bbl/day upgrader, Bloomberg reports.
Syncrude has cut its production to zero for all of April following a fire last month, according to the report, yesterday sending Western Canadian Select crude to its highest level since June 2015, when wildfires in Alberta disrupted production.
The loss of the Canadian shipments comes as U.S. refiners are returning from seasonal maintenance and shipments from the Middle East are declining; analysts say Mexico stands to benefit from the disruption, as the higher heavy Canadian crude prices make Mexico's similar Maya grade more attractive to U.S. Gulf Coast refiners.
Syncrude is majority owned by Suncor Energy (SU +0.4%), with other partners including Imperial Oil (IMO +1.2%), Canadian Oil Sands (OTCQX:COSWF), Murphy Oil (MUR +1.4%), Sinopec (SNP +0.8%) and Cnooc's (CEO +0.8%) Nexen.

Key Levels charted (as it trades on Toronto)

The 34 level had earned some attention....








This chart from a year ago :

meanwhile---back at the ranch-----

SMOKEY THE BEAR , is putting up thousands of no smoking signs
that says 'DON'T GIVE FIRE A PLACE TO START'

Consolidation here is critical to emerge a leader in next upcycle.

Agreed looks like Suncor is trying to get as much of the market share as possible while oil is down. Should pay off big when prices come back up.

Very positive step in my opinion.

Sounds like they shook hands on that deal today.

Suncor Energy (NYSE:SU) says it has offered to acquire all outstanding shares of Canadian Oil Sands (OTCQX:COSWF) for ~C$4.3B ($3.3B), a 43% premium over Friday's closing price.

Including the company’s estimated outstanding net debt of C$2.3B as of June 30, the total transaction value would be ~C$6.6B.

The offer for CPSWF, which owns 37% of the Syncrude oil sands consortium, comes as the company struggles with a slumping stock price due partly to low crude prices.

For SU, the deal would give it a growing presence in the Canadian oil sands after recently boosting its stake in the Fort Hills oil sands project in Alberta to just over 50% by buying a 10% stake from project partner Total.

A coalition of Canadian First Nations, environmentalists and companies including Suncor Energy (NYSE:SU) calls for industry and government to seek aboriginal consent when working with indigenous groups.

The report from the Boreal Leadership Council says Canada's principle of free, prior and informed consent - the right of native people to offer or withhold consent to development that might impact their territories - is crucial to ensuring the country's vast natural resources can be extracted.

Disputes with First Nations groups have contributed to delays on some major energy infrastructure projects, such as Enbridge's (NYSE:ENB) Northern Gateway pipeline to Canada's Pacific coast.

Suncor Energy (SU -0.5%) says it expects greenhouse gas emissions from its operations to rise 28% to 26.2M metric tons in 2019, from 20.5M last year, according to the company's latest annual sustainability report.

$SU

I am so watching this one closely.......

Suncor (SU +5.7%) CEO Steve Williams says prices for oil and gas asset have fallen enough to make acquisitions more attractive, but that his company is not actively pursuing any specific targets.

We are golden here. I am making a lot of bank.

The Keystone Pipeline, Panama Canal And Warren Buffett (3/08/15)

http://seekingalpha.com/article/2982566-the-keystone-pipeline-panama-canal-and-warren-buffett

Suncor: A Leveraged Bet On Rising Oil (2/27/15)

http://seekingalpha.com/article/2959076-suncor-a-leveraged-bet-on-rising-oil

Is Suncor Energy Inc. Really a Good Investment? (3/06/15)

Suncor Energy Inc. (TSX:SU)(NYSE:SU) is one of the most popular stocks in Canada, and investors could be forgiven for thinking the company is the holy grail of stock picks in the energy patch.

After all, Warren Buffett just added to his sizeable Suncor position, and you would be hard pressed to find anyone saying the stock should be avoided.

Let’s take a look at Suncor to see what all the excitement is about.

Performance

Shareholders get returns through stock price appreciation and dividend payments.

Investors who bought Suncor’s stock 20 years ago have enjoyed a 1,500% increase in the share price. On the dividend side, the company has increased the quarterly payout by more than 800% in the last 10 years, from three cents to 28 cents per share.

Not too shabby.

Repurchasing shares is also an effective way a company can reward investors because every share that is purchased and cancelled gives the remaining shareholders a bigger slice of the pie.

Back in September 2011, there were 1.574 billion Suncor shares outstanding. At the end of 2014, that number was 1.444 billion. That means the company bought back and cancelled 130 million shares, or more than 8% of the outstanding stock in just three years.

Share buybacks also suggest the company’s leaders are making disciplined capital-allocation choices. Choosing to return cash to stockholders instead of investing it means the company is sticking to its return on capital objectives.

Note: Suncor’s buyback program is currently on hold, and its 2015 capital program has been reduced by $1 billion to accommodate weakness in the oil market.

Risks

Suncor’s shares are actually trading higher than they were 12 months ago, but oil prices are still 50% below their levels at this time last year. This is a bit concerning. A weak Canadian dollar offsets the drop a bit, but the stock was either undervalued then, or is fully valued now.

Another issue to consider is the global movement to divest holdings in fossil fuel stocks. Last September, the Rockefeller Brothers Fund joined a group of 800 governments, institutions, and private investors who have said they will exit fossil fuel investments in the next five years. At this point, I think the threat to Suncor is minimal. More than 60% of Suncor is owned by institutional investors, but they are unlikely to divest as long as Suncor remains a profitable holding.

The threat of new climate change regulations is also coming onto the radar. In order to keep global warming below the critical two-degrees point, energy companies could be forced to permanently abandon reserves. For political and economic reasons, that’s unlikely to happen anytime soon.

So, should you buy Suncor?

The company’s integrated business model offers investors a hedge against falling oil prices. Suncor has four world-class refineries and a great retail network of service stations. These bring in reliable revenues that help offset lower income from the upstream operations. Oil prices could take another run at $40 or even go lower, but analysts tend to believe prices will eventually move back to $70 or $80 per barrel.

Suncor is a solid long-term holding. Given the current volatility in the oil market, the stock is probably a hold right now. New investors might get a shot at a better entry point in the next few months.

http://www.fool.ca/2015/03/06/is-suncor-energy-inc-really-a-good-investment/

Alberta likely to face recession because of low oil prices (1/13/15)

TORONTO — Alberta’s oil-heavy economy will likely dip into recession as oil prices plunge, according to a report by a Canadian economic think-tank.

In another sign of trouble, Canada’s largest oil sands company, Suncor Energy Inc, announced massive layoffs Tuesday.

The Conference Board of Canada said the western Canadian province’s latest employment and new housing start numbers are holding steady, but that Alberta will slip into recession if oil prices stay low. Alberta has the world’s third-largest oil reserves after Venezuela and Saudi Arabia, and Canadian oil is the single largest source of U.S. oil imports.

“It’s going to be very hard for Alberta to avoid a recession this year,” said Glen Hodgson, the think tank’s chef economist.

The price of a barrel of oil has plummeted from $105 as recently as June to $45.89 on Tuesday — its lowest price in six years.

“Going forward, the province is certain to suffer, especially on the employment front, from the drop in oil prices — and it is likely to slip into recession,” Daniel Fields, an economist at the not-for-profit research organization, said in the report released late Monday.

Suncor announced after markets closed Tuesday that it is reducing its workforce by 1,000 and cutting $1 billion from its capital budget in response to plummeting crude oil prices.

The Calgary-based oil sands giant said the job cuts will mainly affect contractors, but include some employee positions as well.

In November, Suncor predicted capital spending for 2015 would range between $7.2 billion and $7.8 billion.

Projects that haven’t yet been given a final go-ahead by Suncor’s board are being deferred, such as expansions to the MacKay River project in northeastern Alberta and the White Rose development off the east coast.

But major projects under construction such as the $13.5-billion Fort Hills mine north of Fort McMurray, Alberta are moving ahead as planned.

However, Alberta’s premier disputed the Conference Board’s predictions that his province could slip into recession.

“I didn’t find their analysis to be particularly cogent to be frank, and the opinion that they put forward is an outlier among all of the other opinions that have been put forward by every one of Canada’s chartered banks,” Jim Prentice said during a press conference Tuesday. “And by other respected forecasters.”

Prentice, however, warned Albertans they face several difficult years in response to low oil prices. He said it’s a very different situation than the 2008 global financial crisis, when Canada avoided the worst effects because of a strong financial system.

The deputy head of Canada’s central bank, Timothy Lane, said if crude prices persist, they will significantly discourage investment in the oil sector, which he said accounts for about 3 percent of Canada’s gross domestic product. The central bank said that low oil and commodity prices are putting the Canadian economy’s post-recession recovery at risk.

His remarks follow Bank of Canada governor Stephen Poloz’s statement last month that low oil prices could knock 0.3 percentage points off the pace of economic growth.

Last year, Alberta’s economy grew by 3.9 percent, according the province’s website. Alberta has led all of Canada’s provinces in GDP growth over the past two decades, due in large part to its oil industry revenues.

But Hodgson said that could easily change. Even if oil prices rebound to $65 per barrel, he forecasts that investment, profits and consumer spending will be down.

Already, Calgary-based Canadian Natural Resources Limited, an oil and gas exploration, development and production company, announced this week that it will spend $2.4 billion less than expected this year. Other Canadian energy companies such as Cenovus and Husky Energy have also recently announced reduced capital budgets.

http://fuelfix.com/blog/2015/01/13/alberta-likely-to-face-recession-because-of-low-oil-prices/

Canadian oil firm to cut 1,000 jobs, curb spending (1/13/15)

HOUSTON – Canadian oil sands firm Suncor Energy said Tuesday it plans to cut 1,000 jobs, primarily contract positions, as it trims $1 billion out of its investment plans this year.

It’s also gutting its operational expenses by $600 million to $800 million over the next two years. Suncor is the latest to burn off budget fat as petroleum prices crash, joining peers like Canadian Natural Resources, which said this week it anticipates a $2 billion spending cut of its own.

“Cost management has been an ongoing focus, with successful efforts to reduce both capital and operating costs well underway before the decline in oil prices,” Suncor CEO Steve Williams said in a written statement. “However, in today’s low crude price environment, it’s essential we accelerate this work.”

That involves deferring some oil projects and implementing a hiring freeze for non-critical jobs. The Calgary-based firm said it expects to produce from its oil sands operations 540,000 to 585,000 barrels of oil a day this year. Despite the budget cut, Suncor’s projections for its oil production remains unchanged from prior estimates, it said.

http://fuelfix.com/blog/2015/01/13/canadian-oil-firm-to-cut-1000-jobs-curb-spending/