Welcome to our dedicated page for Suncor Energy news (Ticker: SU), a resource for investors and traders seeking the latest updates and insights on Suncor Energy stock.
Suncor Energy Inc. (symbol: SU) is a premier Canadian integrated energy company headquartered in Calgary, Alberta. Suncor is best known for its strong position in the Canadian oil sands, where it engages in extensive development, production, and upgrading activities. Beyond its core oil sands operations, Suncor has diverse business interests including offshore oil production, North American natural gas production, and petroleum refining in both Canada and the U.S. The company’s extensive Petro-Canada™ retail and wholesale distribution network includes Canada's Electric Highway™, a coast-to-coast network of fast-charging electric vehicle stations.
Suncor is a leader in the energy sector, consistently investing in innovative technologies to enhance efficiency and sustainability. The company is actively advancing its transition to a low-emissions future through significant investments in power and renewable fuels. Suncor also conducts energy trading activities primarily focused on the marketing and trading of crude oil, natural gas, byproducts, refined products, and power.
Suncor’s operations are organized into three main segments: Oil Sands, Exploration and Production, and Refining and Marketing. These segments allow the company to have a broad and balanced portfolio, ensuring robust performance across various market conditions. Financially, Suncor continues to perform strongly, with recent achievements including record-high quarterly oil sands production and exceptional downstream performance with refining utilization at 98%.
The company is committed to safety, operational reliability, and the well-being of the communities where it operates. It has a long-standing partnership with Indigenous communities and recently signed a Memorandum of Understanding with Fort McKay First Nation on a significant oil sands lease development opportunity. Suncor also announced a renewed Normal Course Issuer Bid to purchase up to 128.7 million common shares, reflecting confidence in its long-term strategy and shareholder value.
As of the latest updates, Suncor's fourth quarter and annual results for 2023 highlighted strong performance and strategic growth initiatives. The company’s President and CEO, Rich Kruger, emphasized the focus on safety, reliability, and profitability, setting a robust foundation for continued success in 2024. Suncor's shares are listed on the Toronto Stock Exchange and the New York Stock Exchange, providing ample opportunities for investors to participate in its growth.
For more detailed information and the latest news, visit Suncor's official website.
Suncor Energy (TSX: SU, NYSE: SU), a major Canadian oil sands company, has expressed concerns about recent amendments to the Competition Act under Bill C-59, which affect environmental and climate disclosures. The new legislation mandates that businesses substantiate their environmental claims using undefined 'internationally recognized methodology,' creating risks of legal challenges and financial penalties. As a result, Suncor has removed its environmental performance data from public channels. The company urges the federal government to clarify these amendments to allow transparent communication about environmental actions. Suncor underscores its ongoing commitment to environmental sustainability and operational emissions reduction.
Suncor Energy's CEO, Rich Kruger, addressed the House of Commons Standing Committee on Environment and Sustainable Development, urging Canada to leverage its energy resources for economic growth and climate change mitigation. Kruger dispelled myths that suggest oil and gas prosperity harms the planet, asserting that profitability and environmental responsibility are interlinked. He highlighted Suncor's investments in reducing GHG emissions, renewable energy projects, and carbon capture initiatives. Kruger emphasized the need for government-industry collaboration to develop sound policies and regulatory frameworks to support Canada's leadership in responsible energy production and global energy security.
Suncor Energy Inc. reported strong first-quarter 2024 results with $3.2 billion in adjusted funds from operations and $1.8 billion in adjusted operating earnings. Record upstream production and refined product sales were achieved. Net debt decreased to $13.485 billion. The company returned $1.0 billion to shareholders. Suncor launched a loyalty partnership with Canadian Tire No changes were made to the corporate guidance.
Suncor Energy's Board of Directors has approved a quarterly dividend of $0.545 per share on its common shares, payable on June 25, 2024, to shareholders of record on June 4, 2024. Suncor Energy is a leading integrated energy company in Canada, involved in oil sands development, production and upgrading, offshore oil production, petroleum refining, and energy trading activities. The company is focusing on advancing the transition to a low-emissions future through investments in power and renewable fuels. Suncor's common shares are listed on the Toronto and New York stock exchanges.
Suncor Energy held its Annual General Meeting in Calgary, where shareholders voted on various matters. Board members were elected, auditors were appointed, and the approach to executive compensation was approved. Shareholders denied resolutions regarding Suncor's Net Zero pledge and disclosure of climate transition scenarios. Suncor Energy is a leading integrated energy company in Canada, focusing on oil sands development, refining, power, and renewable fuels.
Suncor Energy, a leading integrated energy company in Canada, will release its first quarter financial results on May 7, 2024, and host its Annual General Meeting on the same day. The webcast to review the first quarter will be held on May 8, 2024. Suncor's operations include oil sands development, offshore oil production, petroleum refining, and energy trading activities. Shareholders can participate in the Annual General Meeting online and access detailed instructions on the company's website.
Suncor Energy will host a webcast to provide investors with a Business Update on May 21, 2024, focusing on lowering breakeven costs and increasing shareholder returns. Management representatives include the President, CEO, CFO, and EVPs. Suncor is Canada's leading integrated energy company engaged in oil sands, offshore oil production, refining, and energy trading activities.
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