Suncor Highlights Strong Refining Capacity Amid Potential U.S. Tariffs

CEO Rich Kruger emphasizes the company's resilience due to its Canadian refining network and integrated operations as U.S. tariff threats loom.

Suncor CEO Rich Kruger stated the company's Canadian refining capacity positions it well to mitigate the impact of potential U.S. tariffs on Canadian oil imports.
Approximately 60-65% of Suncor's production remains in Canada, processed through its own refining network or exported to non-U.S. markets.
The company reported a Q4 2024 profit of $818 million, a significant drop from $2.82 billion in the same period last year, though adjusted earnings exceeded analyst expectations.
Suncor achieved record production levels in 2024, with upstream production reaching 828,000 barrels per day, a 6% increase over previous highs.
Analysts view Suncor as a relatively safe option in a potential North American energy trade conflict due to its integrated operations and self-reliance in refining.