Suncor Energy provides update following Government of Alberta’s decision to cut oil production
03 December 2018 - 11:00PM
Suncor today confirms it is assessing the impact of the Government
of Alberta’s announcement to curtail oil production during 2019.
Suncor believes the market is the most effective means to
balance supply and demand and normalize differentials. Less
economic production was being curtailed and differentials were
narrowing as a result of market forces.
The anticipated regulations will require oil producers to reduce
their production effective Jan. 1, 2019.
The specific impact of the production cut will be provided when
Suncor issues its 2019 capital and production guidance. The company
remains well positioned given the strength of its integration
through its midstream logistics and downstream business.
Suncor Energy is Canada's leading integrated energy company.
Suncor's operations include oil sands development and upgrading,
offshore oil and gas production, petroleum refining, and product
marketing under the Petro-Canada brand. A member of Dow Jones
Sustainability indexes, FTSE4Good and CDP, Suncor is working to
responsibly develop petroleum resources while also growing a
renewable energy portfolio. Suncor is listed on the UN Global
Compact 100 stock index. Suncor's common shares (symbol: SU) are
listed on the Toronto and New York stock exchanges.
For more information about Suncor, visit our web site at
suncor.com, follow us on Twitter @Suncor or together.suncor.com
Media inquiries:403-296-4000media@suncor.com
Investor inquiries:800-558-9071invest@suncor.com
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