Welcome to our dedicated page for Suncor Energy news (Ticker: SU), a resource for investors and traders seeking the latest updates and insights on Suncor Energy stock.
Suncor Energy reports news as a Canadian integrated energy company with operations across oil sands mining and in situ production, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and Petro-Canada retail and wholesale networks.
Recurring company updates cover quarterly financial and operating results, upstream production, refining throughput, refined product sales, dividends, normal course issuer bid activity, investor day materials, contingent resources reporting, and annual meeting governance matters such as auditor appointment, executive compensation votes, director elections, and climate-related risk oversight proposals.
Petro-Canada, a Suncor Energy (TSX: SU) (NYSE: SU) business, has extended its partnerships with the Canadian Olympic Committee and Canadian Paralympic Committee through 2032. This extension covers the next four Games, including Milano Cortina 2026, Los Angeles 2028, Winter 2030, and Brisbane 2032.
The partnership includes the Fuelling Athlete and Coaching Excellence (FACE) program, which annually provides $10,000 grants to 55 up-and-coming athletes and their coaches. Since 1988, FACE has supported over 3,500 athletes and coaches with $14 million in funding.
Petro-Canada has also launched its 2024 Olympic and Paralympic Games campaign, inviting Canadians to share their best cheers on social media for a chance to win prizes, including a trip to the 2026 Olympic Winter Games in Milano Cortina, Italy.
Suncor Energy (TSX: SU, NYSE: SU), a major Canadian oil sands company, has expressed concerns about recent amendments to the Competition Act under Bill C-59, which affect environmental and climate disclosures. The new legislation mandates that businesses substantiate their environmental claims using undefined 'internationally recognized methodology,' creating risks of legal challenges and financial penalties. As a result, Suncor has removed its environmental performance data from public channels. The company urges the federal government to clarify these amendments to allow transparent communication about environmental actions. Suncor underscores its ongoing commitment to environmental sustainability and operational emissions reduction.
Suncor Energy's CEO, Rich Kruger, addressed the House of Commons Standing Committee on Environment and Sustainable Development, urging Canada to leverage its energy resources for economic growth and climate change mitigation. Kruger dispelled myths that suggest oil and gas prosperity harms the planet, asserting that profitability and environmental responsibility are interlinked. He highlighted Suncor's investments in reducing GHG emissions, renewable energy projects, and carbon capture initiatives. Kruger emphasized the need for government-industry collaboration to develop sound policies and regulatory frameworks to support Canada's leadership in responsible energy production and global energy security.
Suncor Energy Inc. reported strong first-quarter 2024 results with $3.2 billion in adjusted funds from operations and $1.8 billion in adjusted operating earnings. Record upstream production and refined product sales were achieved. Net debt decreased to $13.485 billion. The company returned $1.0 billion to shareholders. Suncor launched a loyalty partnership with Canadian Tire No changes were made to the corporate guidance.
Suncor Energy's Board of Directors has approved a quarterly dividend of $0.545 per share on its common shares, payable on June 25, 2024, to shareholders of record on June 4, 2024. Suncor Energy is a leading integrated energy company in Canada, involved in oil sands development, production and upgrading, offshore oil production, petroleum refining, and energy trading activities. The company is focusing on advancing the transition to a low-emissions future through investments in power and renewable fuels. Suncor's common shares are listed on the Toronto and New York stock exchanges.
Suncor Energy held its Annual General Meeting in Calgary, where shareholders voted on various matters. Board members were elected, auditors were appointed, and the approach to executive compensation was approved. Shareholders denied resolutions regarding Suncor's Net Zero pledge and disclosure of climate transition scenarios. Suncor Energy is a leading integrated energy company in Canada, focusing on oil sands development, refining, power, and renewable fuels.
Suncor Energy, a leading integrated energy company in Canada, will release its first quarter financial results on May 7, 2024, and host its Annual General Meeting on the same day. The webcast to review the first quarter will be held on May 8, 2024. Suncor's operations include oil sands development, offshore oil production, petroleum refining, and energy trading activities. Shareholders can participate in the Annual General Meeting online and access detailed instructions on the company's website.
Suncor Energy will host a webcast to provide investors with a Business Update on May 21, 2024, focusing on lowering breakeven costs and increasing shareholder returns. Management representatives include the President, CEO, CFO, and EVPs. Suncor is Canada's leading integrated energy company engaged in oil sands, offshore oil production, refining, and energy trading activities.
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