Suncor Power Inc. says it earned $2.74 billion within the fourth quarter of 2022, a 76 % enhance from the $1.55 billion it earned in the identical three months of 2021.
The Calgary-based firm mentioned its elevated revenue was because of the 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 mentioned it earned $2.43 billion, or $1.81 per frequent share, in contrast with $1.30 billion, or 89 cents per frequent share, within the year-ago quarter.
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The power 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 year-ago quarter, pushed primarily by elevated manufacturing from the corporate’s oil sands belongings.
Suncor’s refinery crude throughput was 440,000 barrels per day and its refinery utilization was 94 % within the fourth quarter of 2022, in comparison with 447,000 barrels per day and 96 % within the earlier quarter.
It attributed the decline partially to surprising upkeep that occurred within the quarter, together with that required resulting from dangerous climate on the firm’s Commerce Metropolis refinery.
© 2023 The Canadian Press
