Suncor forecasts production growth but warns forced cutbacks pose safety, operational risks [Toronto Globe and Mail (Ontario, Canada)]
Suncor Energy Inc. (SU)
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Source: Toronto Globe and Mail
Forced Alberta government crude oil production cuts next year will result in “unintended consequences” that could include increased safety hazards for its employees, Suncor Energy Inc. warned Friday. Despite the cuts that begin Jan. 1, Canada’s largest integrated oil and gas company forecasts production will grow by 10 per cent in 2019 on a stand-pat budget of between $4.9 billion and $5.6 billion. Integrated companies like Suncor, Imperial Oil Ltd. and Husky Energy Inc. are opposed to the curtailments which are supported by bitumen producers like Cenovus Energy Inc. Story continues below advertisement The cuts announced by Premier Rachel Notley earlier this month are intended to bring industry output in line with pipeline capacity to drain trapped oil from the western Canadian market and reduce resulting steep discounts for crude oil. “In the short term, the government of Alberta action has resulted in winners and losers in the marke
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Earnings
- 2/21/24 - Beat
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Sec Filings
- 3/27/24 - Form 6-K
- 3/22/24 - Form 6-K
- 3/22/24 - Form 40-F
- SU's page on the SEC website