Canadian oil company Suncor produced and refined more oil than ever in 2024.
Posted at 6:09 p.m.
In the last quarter of the year, the company produced 874,000 barrels of oil per day, 66,000 barrels per day more than the same quarter of 2023 and a quarterly record. For the full year, average production was 827,000 barrels per day, up 10.9% compared to 2023.
In terms of refining activities, Suncor also recorded records in the third and fourth quarters of the year, with production of 487,000 barrels per day of gasoline and other refined products, an increase of 31,000 barrels per day compared to in the same two quarters of 2023. Average production from Suncor’s four refineries reached 465,000 barrels per day for 2024, up by 10.5% over the past year. The Edmonton and Montreal refining facilities, in particular, recorded record utilization rates, at 100%.
This performance can be explained, among other things, by Suncor’s refocusing on its core activities, company president Rich Kruger said in a press release. Since its arrival last year, Suncor has abandoned renewable energy to focus on oil sands development.
Canada
