Suncor looks to rebound
Canadian producer aims for recovery after tough period of enforced production restrictions
Mandatary crude curtailments in the Canadian province of Alberta continued to hamstring domestic producers’ profits last year after the government took drastic measures to reduce the discounts of Canadian domestic production to US benchmarks—the result of a severe lack of export pipeline capacity. The fourth quarter financial results of Canadian oil sands producer Suncor showcased the industry-wide implications of the constraints. Company net losses in the quarter reached $2.34bn, against $280mn in the fourth quarter the previous year. Suncor also suffered a $3.4bn impairment charge due to lower projected returns on heavy oil mining at Fort Hills, in the Canadian oil sands patch. Total upstr
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
