The
Analysts had expected Suncor to report first-quarter earnings of
In the first quarter of 2020, Suncor had
Suncor says total production increased to 785,900 barrels of oil equivalent per day in the most recent quarter, compared to 739,800 boe/d in the same quarter of 2020, as upgrader utilization at its oilsands mines averaged 97 per cent and production of bitumen from wells reached a record level of 170,700 barrels per day.
Refinery crude throughput was 428,400 bpd as refinery utilization reached 92 per cent in the first quarter, compared to throughput of 439,500 bpd and utilization of 95 per cent in the prior year quarter.
“In the first quarter of 2021 we demonstrated our continued commitment to operational excellence through combined upgrader utilization of 97 per cent, record in situ production and improved cost performance in the upstream,” said CEO
“In our downstream business, we continue to leverage our marketing and logistics network and optimized our inventory levels in advance of our spring (maintenance) turnarounds, which helped achieve average refinery utilization rates of 92 per cent and deliver strong financial results in the quarter.”
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