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
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
24 April 2026
The European Commission’s response to the Middle East crisis is to double down on its transition strategy, with plans for a new target on electrification
24 April 2026
A major new discovery by Eni and BP that can likely be fast-tracked to production is welcome news for Egypt as it scrambles to plug a widening supply gap and deal with rising import risks
24 April 2026
Countries in the region are turning to the cleaner-burning fuel for power generation, driving demand for imports
