Suncor Scales Up Crude Oil, Refining Production for 2022 as Demand Rises

SUGAR LAND--December 14, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--With oil and gas prices hitting multi-year highs, Canada's top producers are following their U.S. peers in hiking their capital expenditure (capex) programs for 2022 to exploit their existing properties, while exercising caution in acquiring any new properties. Suncor Energy Incorporated (NYSE:SU) (Calgary, Alberta) spent much of 2020 tightening its belt amid the COVID-19 crisis, but is returning to spending mode next year with a $4.7 billion capex outlook and expectations for stronger consumer demand. Industrial Info is tracking more than $17.7 billion worth of active projects from Suncor.

Within this article: Details on some of Suncor's highest-valued, most anticipated projects, including synthetic crude oil and petroleum-refining projects in and around Fort McMurray, Alberta.

Other companies featured: Imperial Oil Limited (TSX:IMO), China Petroleum & Chemical Corporation (Sinopec), China National Offshore Oil Corporation (CNOOC)