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. (SU) is a leading Canadian integrated energy company focused on sustainable development of oil sands resources, petroleum refining, and retail operations through its Petro-Canada network. This page aggregates official announcements, financial reports, and operational updates to serve as a comprehensive resource for stakeholders.
Access real-time information on quarterly earnings, environmental initiatives, refinery optimization projects, and strategic partnerships. Investors will find timely updates on production metrics, dividend declarations, and leadership changes directly from corporate sources.
Key content categories include oil sands innovation developments, downstream operational updates, corporate sustainability reports, and market analysis relevant to SU's integrated business model. All materials are sourced from verified company communications to ensure accuracy.
Bookmark this page for streamlined access to Suncor Energy's latest developments across its upstream production, refining capabilities, and expanding retail footprint. Check regularly for updates that may impact long-term energy sector positioning.
Suncor Energy (TSX: SU) (NYSE: SU) has announced the release date for its third quarter 2024 financial results. The results will be published on November 12, 2024 before 5:00 p.m. MT (7:00 p.m. ET). A webcast to review the results will be held on November 13, 2024 at 7:30 a.m. MT (9:30 a.m. ET).
The webcast will feature Rich Kruger, President and CEO, and Kris Smith, CFO, with Troy Little, Senior VP of External Affairs, hosting the call. Analysts can register to participate in the Q&A session. Suncor Energy, Canada's leading integrated energy company, operates in oil sands development, offshore oil production, petroleum refining, and retail distribution through Petro-Canada.
Suncor Energy announced the pricing of its tender offers to purchase up to C$1 billion of its 6.50% and 6.80% Notes due 2038 (Pool 1 Notes), and up to C$100 million of its other notes (Pool 2 Notes). The tender offers aim to retire long-term debt and strengthen the balance sheet. The early tender date was October 2, 2024, and the early settlement date is October 7, 2024. The tender offers will expire on October 18, 2024. Suncor will use cash on hand to fund the purchases. The company expects to accept all validly tendered Pool 1 Notes and some Pool 2 Notes on a prorated basis. The total consideration includes accrued and unpaid interest. Notes accepted will be retired and canceled.
Suncor announced early tender results for its Tender Offers to purchase certain outstanding notes for cash. The company increased the Pool 1 Maximum Amount from C$700 million to C$1 billion and maintained the Pool 2 Maximum Amount at C$100 million. As of the early tender date, significant amounts of various notes have been tendered. For Pool 1, Suncor expects to accept all 6.50% Notes due 2038 and 6.80% Notes due 2038 on a prorated basis. For Pool 2, it will accept all 3.10% Series 6 Medium Term Notes due 2029, 3.00% Series 5 Medium Term Notes due 2026, and 5.35% Notes due 2033, with 5.95% Notes due 2035 accepted on a prorated basis. The Tender Offers will expire on October 18, 2024. Suncor plans to fund the purchases with cash on hand and expects to make payments on October 7, 2024. All accepted notes will be retired and canceled.
Suncor Energy (TSX: SU) (NYSE: SU) has announced tender offers to purchase for cash certain outstanding series of notes for an aggregate purchase price of up to C$800 million, excluding accrued interest. The tender offers are divided into two pools:
Pool 1 (max C$700 million): 6.50% Notes due 2038 and 6.80% Notes due 2038
Pool 2 (max C$100 million): Various series of notes due between 2026 and 2042
The tender offers will expire on October 18, 2024. Holders tendering before the Early Tender Date of October 2, 2024, will be eligible for the Total Consideration, which includes an Early Tender Payment. The purchase price will be determined based on a fixed spread plus the yield of the applicable reference security on October 3, 2024. Suncor intends to fund the purchases with cash on hand.
Suncor Energy reported its Q2 2024 results, highlighting key financial and operational performance metrics.
The company generated $3.4 billion in adjusted funds from operations and $1.4 billion in free funds flow. Shareholder returns totaled over $1.5 billion through $825 million in share repurchases and $698 million in dividends.
Key production metrics included a strong upstream production of 771,000 barrels per day (bbls/d) and refinery throughput of 431,000 bbls/d. Record first half production included 803,000 bbls/d upstream and 443,000 bbls/d refinery throughput.
Financial highlights showed net earnings of $1.568 billion ($1.22 per share) and adjusted operating earnings of $1.626 billion ($1.27 per share).
Suncor executed $800 million in turnaround activities ahead of schedule and reduced net debt by $498 million to $9.054 billion.
Suncor forecasts growth in free funds flow by $3.3 billion per year by 2026 and plans to grow upstream production by 100,000 bbls/d from 2023 to 2026.
Suncor Energy (TSX: SU) (NYSE: SU) has announced a quarterly dividend of $0.545 per share on its common shares, payable September 25, 2024 to shareholders of record at the close of business on September 4, 2024. Suncor, Canada's leading integrated energy company, operates in oil sands development, offshore oil production, petroleum refining, and retail distribution through Petro-Canada™. The company is also investing in lower-emissions power, renewable fuels, and emissions reduction projects as part of its transition strategy. Suncor's common shares are listed on both the Toronto and New York stock exchanges under the symbol SU.
Suncor Energy (TSX: SU) (NYSE: SU) has announced the release of its second quarter 2024 financial results on August 6, 2024, before 5:00 p.m. MT. A webcast to review the results will be held on August 7, 2024, at 7:30 a.m. MT. Rich Kruger, President and CEO, and Kris Smith, CFO, will represent management, with Troy Little, VP of Investor Relations, hosting the call. The webcast will include a Q&A session with analysts.
Suncor, headquartered in Calgary, Alberta, is an integrated energy company with operations in oil sands development, offshore oil production, and petroleum refining. The company is also investing in lower-emissions power, renewable fuels, and emissions reduction projects as part of its transition strategy.
Petro-Canada, a Suncor Energy (TSX: SU) (NYSE: SU) business, has extended its partnerships with the Canadian Olympic Committee and Canadian Paralympic Committee through 2032. This extension covers the next four Games, including Milano Cortina 2026, Los Angeles 2028, Winter 2030, and Brisbane 2032.
The partnership includes the Fuelling Athlete and Coaching Excellence (FACE) program, which annually provides $10,000 grants to 55 up-and-coming athletes and their coaches. Since 1988, FACE has supported over 3,500 athletes and coaches with $14 million in funding.
Petro-Canada has also launched its 2024 Olympic and Paralympic Games campaign, inviting Canadians to share their best cheers on social media for a chance to win prizes, including a trip to the 2026 Olympic Winter Games in Milano Cortina, Italy.
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.
