Overview
- Suncor forecasts 2026 upstream production of 840,000 to 870,000 barrels per day, higher than its 2025 range of 810,000 to 840,000.
- Refining utilization is expected to average 99% to 102% next year, with planned turnarounds across all four refineries reflecting improved operational performance.
- Capital spending is guided at C$5.6 billion to C$5.8 billion, down from C$6.1 billion to C$6.3 billion in 2025.
- Investment will focus on in-situ well pads, Mildred Lake East, Fort Hills North Pit, the West White Rose project, and Petro-Canada retail optimization.
- Share repurchases have been raised to C$275 million per month with about C$3.3 billion projected for 2026, as the company reports achieving roughly 70% of its three-year improvement goals within a sector seeing record oilsands output.