Suncor looks to rebound
Canadian producer aims for recovery after tough period of enforced production restrictions
Mandatary crude curtailments in the Canadian province of Alberta continued to hamstring domestic producers’ profits last year after the government took drastic measures to reduce the discounts of Canadian domestic production to US benchmarks—the result of a severe lack of export pipeline capacity. The fourth quarter financial results of Canadian oil sands producer Suncor showcased the industry-wide implications of the constraints. Company net losses in the quarter reached $2.34bn, against $280mn in the fourth quarter the previous year. Suncor also suffered a $3.4bn impairment charge due to lower projected returns on heavy oil mining at Fort Hills, in the Canadian oil sands patch. Total upstr
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
