Canadian oil and gas company Suncor said Monday it saw higher upstream production and throughput at its refineries in the fourth quarter.
The Calgary, Alberta-based company’s quarterly upstream production reached 874,000 barrels per day (bpd), up from 808,000 bpd in the same quarter a year earlier.
Suncor said throughput at its refineries increased 31,000 bpd to 487,000 bpd in the quarter, while refinery utilization jumped to 104% from 98% last year.
“Our strong operational performance also supported strong financial performance, including enabling us to achieve our net debt target of $8 billion nine months ahead of the projection outlined in our May 2024 three-year plan,” said CEO Rich Kruger .
Last month, the Canadian producer forecast an increase in oil and gas production as well as a reduction in spending in 2025, hoping to benefit from the increase in export capacity since the pipeline expansion began Trans Mountain last year.
Belgium
