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Released August 07, 2025 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Suncor Energy Incorporated (Calgary, Alberta) celebrated record production in its upstream and downstream businesses for the second quarter of 2025, even as a drop in oil prices took a big bite out of the company's earnings. Industrial Info is tracking more than US$17 billion worth of active and proposed projects from Suncor, more than US$7.8 billion of which is attributed to expansions at existing plants.
Click on the image at right for a graph detailing Suncor's active and proposed projects, by project type.
Suncor has notched up four record-high results so far this year: second-quarter upstream production of 808,000 barrels per day (BBL/d) and first-half production of 831,000 BBL/d, as well as second-quarter refinery throughput of 442,000 BBL/d and first-half throughput of 462,000 BBL/d. Management attributed there results partly to major upstream and downstream turnaround activities that were completed ahead of schedule.
Despite these gains, lower upstream price realizations, lower benchmark pricing, foreign exchange and other factors led to net earnings of C$1.13 billion (US$822.26 million), a 27.7% drop from second-quarter 2024. As Chris Smith, the chief financial officer of Suncor, said in a quarterly earnings-related conference call: "It was a quarter marked by continued volatility in crude oil prices. WTI [West Texas Intermediate] ranged from the high US$50s to the mid-US$70s in the second quarter, all within a very short window; US$63.7 per barrel [average] for the quarter, a drop of almost US$8 a barrel from the first quarter."
Among Suncor's most significant accomplishments during the second quarter was the completion of the US$1.5 billion MLX-West extension at the Mildred Lake Oil Sands Mine near Fort McMurray, Alberta, which will replace the now-depleted MLX-North. Rich Krueger, the chief executive officer of Suncor, said his company achieved first ore at the open-pit operation in April, six months ahead of schedule and without a new tailings pond or processing plant. The project also involved constructing new haul roads and power lines, as well as a new bridge for transportation across the MacKay River.
Syncrude Canada Limited, a subsidiary overseeing the Mildred Lake operations, is weighing the potential for another open-pit operation, the MLX-East extension, which could begin construction as early as next year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Plant and Project databases can learn more about Mildred Lake from a plant profile and detailed reports on MLX-West and MLX-East.
Suncor also plans to upgrade haulage at its Syncrude operations through a US$100 million autonomous truck addition. Starting in 2026, the company will phase in a fleet of 150 autonomous heavy-hauler trucks at its oil sands mine sites over a six-year period. Later this year, it expects to finish construction on a $326.8 million tailings pipeline to transport and dispose of waste materials. Subscribers can read detailed reports on the autonomous truck and tailings pipeline projects.
In the U.S., Suncor expects to finish construction later this year on improvements to its Rocky Mountain Pipeline, which carries crude oil from Wyoming to a Suncor refinery in Colorado. Working in segments of 10-15 miles, Suncor is replacing a 10-inch-diameter line with 16-inch pipe, to transport up to 33,900 BBL/d of crude oil. The $75 million Wyoming segment runs 62 miles to the state border, while the $110 million Colorado segment runs 70 miles to the refinery in Fort Lupton. Subscribers can read detailed project reports on the Wyoming and Colorado portions.
On the refining side of the business, Dave Voldrie, the executive vice president of downstream for Suncor, said the company expects the macro environment to be "fairly robust over the short term," with "diesel cracks being very strong."
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article.
Subscribers can click here for a full list of detailed reports for active and proposed projects from Suncor.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing Suncor's active and proposed projects, by project type.Suncor has notched up four record-high results so far this year: second-quarter upstream production of 808,000 barrels per day (BBL/d) and first-half production of 831,000 BBL/d, as well as second-quarter refinery throughput of 442,000 BBL/d and first-half throughput of 462,000 BBL/d. Management attributed there results partly to major upstream and downstream turnaround activities that were completed ahead of schedule.
Despite these gains, lower upstream price realizations, lower benchmark pricing, foreign exchange and other factors led to net earnings of C$1.13 billion (US$822.26 million), a 27.7% drop from second-quarter 2024. As Chris Smith, the chief financial officer of Suncor, said in a quarterly earnings-related conference call: "It was a quarter marked by continued volatility in crude oil prices. WTI [West Texas Intermediate] ranged from the high US$50s to the mid-US$70s in the second quarter, all within a very short window; US$63.7 per barrel [average] for the quarter, a drop of almost US$8 a barrel from the first quarter."
Among Suncor's most significant accomplishments during the second quarter was the completion of the US$1.5 billion MLX-West extension at the Mildred Lake Oil Sands Mine near Fort McMurray, Alberta, which will replace the now-depleted MLX-North. Rich Krueger, the chief executive officer of Suncor, said his company achieved first ore at the open-pit operation in April, six months ahead of schedule and without a new tailings pond or processing plant. The project also involved constructing new haul roads and power lines, as well as a new bridge for transportation across the MacKay River.
Syncrude Canada Limited, a subsidiary overseeing the Mildred Lake operations, is weighing the potential for another open-pit operation, the MLX-East extension, which could begin construction as early as next year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Plant and Project databases can learn more about Mildred Lake from a plant profile and detailed reports on MLX-West and MLX-East.
Suncor also plans to upgrade haulage at its Syncrude operations through a US$100 million autonomous truck addition. Starting in 2026, the company will phase in a fleet of 150 autonomous heavy-hauler trucks at its oil sands mine sites over a six-year period. Later this year, it expects to finish construction on a $326.8 million tailings pipeline to transport and dispose of waste materials. Subscribers can read detailed reports on the autonomous truck and tailings pipeline projects.
In the U.S., Suncor expects to finish construction later this year on improvements to its Rocky Mountain Pipeline, which carries crude oil from Wyoming to a Suncor refinery in Colorado. Working in segments of 10-15 miles, Suncor is replacing a 10-inch-diameter line with 16-inch pipe, to transport up to 33,900 BBL/d of crude oil. The $75 million Wyoming segment runs 62 miles to the state border, while the $110 million Colorado segment runs 70 miles to the refinery in Fort Lupton. Subscribers can read detailed project reports on the Wyoming and Colorado portions.
On the refining side of the business, Dave Voldrie, the executive vice president of downstream for Suncor, said the company expects the macro environment to be "fairly robust over the short term," with "diesel cracks being very strong."
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article.
Subscribers can click here for a full list of detailed reports for active and proposed projects from Suncor.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
