Suncor Energy Inc. says it earned $2.74 billion within the fourth quarter of 2022, a 76 per cent improve from the $1.55 billion it earned in the identical three months of 2021.
The Calgary-based firm says its elevated revenue was as a result of greater worth of crude and refined product realizations in addition to greater upstream manufacturing, partially offset by elevated working bills.
On an adjusted foundation, Suncor says it earned $2.43 billion, or $1.81 per frequent share, in comparison with $1.30 billion or 89 cents per frequent share within the prior yr’s quarter.
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The vitality big says its complete upstream manufacturing elevated to 763,100 barrels of oil equal per day (boe/d) within the fourth quarter of 2022, in comparison with 743,300 boe/d within the prior yr quarter, primarily pushed by elevated manufacturing from the corporate’s oilsands property.
Suncor’s refinery crude throughput was 440,000 barrels per day and its refinery utilization was 94 per cent within the fourth quarter of 2022, in comparison with 447,000 bbls/d and 96 per cent within the prior-year quarter.
It attributes the lower partly to sudden upkeep that occurred within the quarter, together with that required because of unhealthy climate on the firm’s Commerce City refinery.
