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Suncor ramping up megaprojects as refining unit protects prices [Business News Network (BNN) Energy & Resources (Canada)]

SUNCOR ENERGY (SU)  More Company Research Source: Business News Network
Last suncor energy earnings: 7/25 06:45 pm Check Earnings Report
US:NYSE Investor Relations: suncor.com/investor-centre
PDF Suncor ramping up megaprojects as refining unit protects prices Suncor Energy Inc. is barreling ahead on the ramp-ups of the Fort Hills and Hebron oil megaprojects as its refining operations protect it from the pipeline shortages and lower prices that are slamming competitors. Canada’s largest oil producer by market value said Tuesday that Fort Hills, an oil-sands mine in Alberta, and Hebron, an offshore development along the nation’s Atlantic coast, are both ahead of schedule. The progress helped Suncor post output of 689,400 barrels of oil equivalent a day last quarter, topping analysts’ 685,630-barrel average estimate. The megaprojects are coming online in the midst of a fierce battle over pipelines to haul away western Canadian crude. Kinder Morgan Inc. has threatened to abandon its Trans Mountain expansion over opposition from British Columbia, while TransCanada Corp.’s Keystone XL and Enbridge Inc.’s Line 3 remain in limbo amid regulatory issues and legal challenges. While the p [Read more]

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