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Stock impact report

Suncor records second highest annual production, says safety record is improving [Globe and Mail, The (Toronto, Canada)]

Suncor Energy Inc. (SU) 
Last suncor energy inc. earnings: 2/5 07:15 pm Check Earnings Report
US:NYSE Investor Relations: suncor.com/investor-centre
last year after several years of lacklustre performance that had made it a target for activist shareholders in 2022. The energy giant produced an average of 746,000 barrels a day in 2023, chief executive Rich Kruger told shareholders at the company's annual meeting on Tuesday. Suncor's bitumen upgraders also processed a record amount, reaching a 92-per-cent utilization rate and hitting 99 per cent in the second half of 2023. Suncor's safety record has also improved markedly. Mr. Kruger said 2023 was the safest year in the company's history, with no deaths, or life-threatening or life-altering injuries of any kind. Two years ago, activist hedge fund Elliott Investment Management LP launched a campaign to oust several directors at the Calgary-based producer and explore a sale of its Petro-Canada gas station chain. Suncor's share price had underperformed rivals since 2020, and Elliott wanted then-CEO Mark Little to be removed from the helm. Elliott also took issue with Suncor's s Show less Read more
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