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Higher Oil Prices Give Boost to Suncor Net Earnings


Industry Segment: Metals & Minerals | Word Count: 689 Words

SUGAR LAND--February 9, 2018--Researched by Industrial Info Resources (Sugar Land, Texas)--Suncor Energy Incorporated (NYSE:SU) (Calgary, Alberta) reported a much-improved fourth-quarter and full-year 2017 for earnings. Net earnings in the just-passed quarter were C$1.38 billion ($1.1 billion), compared with C$531 million ($421.9 million) in fourth-quarter 2016. Full year net earnings were C$4.46 billion ($3.54 billion), compared with C$445 million ($353 million) for 2016. The company cited improved crude oil pricing, lower operating and exploration costs, and refinery utilization of 94% as reasons for the uptick in earnings. Industrial Info is tracking $33.9 billion in active Suncor projects.

Within this article: Details of major Suncor projects

Other companies featured: Exxon Mobil Corporation (NYSE:XOM)

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