Suncor Energy Inc. (SU) Bundle
A Brief History of Suncor Energy Inc. (SU)
Foundation and Early Years
Foundation and Early Years
Suncor Energy Inc. was founded in 1967 as the Sun Oil Company of Canada. The company pioneered the development of Alberta's oil sands, establishing its first commercial oil sands processing facility at the Bitumen Extraction Plant in Fort McMurray in 1967.
Public Offering and Initial Growth
In 1979, the company became the first in the world to produce synthetic crude oil from oil sands. The company went public in 1991, raising $375 million through its initial public offering (IPO) on the Toronto Stock Exchange.
Acquisitions and Expansion
In 2002, Suncor acquired the Petro-Canada retail brand, diversifying its operations and expanding its presence in the downstream sector. This acquisition was valued at approximately $3.1 billion.
Financial Performance Overview
As of 2023, Suncor Energy reported total revenue of approximately $49.1 billion with a net income of around $7.4 billion, reflecting significant growth in oil prices and operational efficiency.
| Year | Total Revenue (CAD) | Net Income (CAD) | Cash Flow from Operations (CAD) |
|---|---|---|---|
| 2019 | $34.5 billion | $1.5 billion | $9.0 billion |
| 2020 | $15.3 billion | -$4.0 billion | $4.5 billion |
| 2021 | $34.7 billion | $2.9 billion | $9.9 billion |
| 2022 | $51.7 billion | $6.9 billion | $12.4 billion |
| 2023 | $49.1 billion | $7.4 billion | $11.8 billion |
Environmental Initiatives
Suncor has invested over $1.3 billion in renewable energy projects, focusing on wind and solar power. The company aims to reduce its greenhouse gas emissions by 30% by the year 2030.
Recent Developments
In 2022, Suncor announced plans to divest non-core assets worth approximately $1 billion, aiming to streamline operations and focus on its core business. As of 2023, Suncor operates over 1,500 retail locations across Canada.
Conclusion of Periods
The company has seen significant ups and downs in its history, particularly due to fluctuating oil prices. Despite challenges in the oil market, Suncor remains one of the largest players in the Canadian oil industry.
A Who Owns Suncor Energy Inc. (SU)
Overview of Ownership Structure
Suncor Energy Inc. is a publicly traded company listed on the Toronto Stock Exchange under the ticker symbol SU. As of October 2023, ownership of Suncor is held by a diverse range of institutional and retail investors.
Major Shareholders
The following table displays the major shareholders of Suncor Energy Inc. along with their respective ownership percentages:
| Shareholder | Type | Ownership Percentage (%) | Number of Shares |
|---|---|---|---|
| Vanguard Group, Inc. | Institutional Investor | 8.34 | 197,872,000 |
| BlackRock, Inc. | Institutional Investor | 7.58 | 181,632,000 |
| Royal Bank of Canada | Institutional Investor | 6.77 | 162,240,000 |
| Capital Group Companies Inc. | Institutional Investor | 5.49 | 131,088,000 |
| TD Asset Management | Institutional Investor | 4.32 | 103,680,000 |
| Other Institutions | Various | 16.45 | 392,880,000 |
| Retail Investors | Individual | 47.36 | 1,129,680,000 |
Institutional Ownership
The institutional ownership of Suncor is significant, reflecting the confidence of large investors in the company's potential. As of the third quarter of 2023, institutional investors hold approximately 52.1% of the total shares. Key institutions include:
- Vanguard Group, Inc. - 8.34%
- BlackRock, Inc. - 7.58%
- Royal Bank of Canada - 6.77%
- Capital Group Companies Inc. - 5.49%
- TD Asset Management - 4.32%
Retail Investor Demographics
Retail investors have a strong presence in Suncor's shareholder composition. Approximately 47.36% of the shares are owned by individual investors. This group comprises a wide range of demographics, including:
- High-net-worth individuals
- Self-directed investors
- Investment clubs
- General public investors
Market Capitalization
As of October 2023, Suncor Energy Inc. has a market capitalization of approximately $38.5 billion. This figure is subject to market fluctuations and can impact ownership dynamics over time.
Recent Share Performance
The performance of Suncor shares has varied significantly over the past year, with recent trading data indicating:
- 52-week high: $44.22
- 52-week low: $28.50
- Current share price: $37.75
Conclusion on Ownership Dynamics
With a mix of institutional and retail investors, ownership in Suncor Energy Inc. reflects a diverse and engaged shareholder base. The dynamics of ownership can influence corporate governance and strategic direction.
Suncor Energy Inc. (SU) Mission Statement
Company Overview
Suncor Energy Inc., incorporated in 1919, is a Canadian integrated energy company headquartered in Calgary, Alberta. It focuses on the development of oil sands, refining, and renewable energy.
Mission Statement
Suncor’s mission statement emphasizes their commitment to being a leading energy producer while prioritizing safety, sustainability, and responsibility. The mission highlights their objective to deliver energy in a way that respects the environment and contributes to the communities they operate in.
Key Components of the Mission Statement
- Energy Production: Focus on providing reliable energy resources.
- Environment: Commitment to minimizing environmental impacts.
- Community Engagement: Responsibility toward the communities and stakeholders.
- Innovation: Using technology to enhance efficiency and sustainability.
Financial Performance
As of the latest financial reports, Suncor Energy Inc. reported the following key financial metrics:
| Financial Metric | 2022 (CAD) | 2021 (CAD) | 2020 (CAD) |
|---|---|---|---|
| Total Revenue | 52.25 billion | 37.6 billion | 27.6 billion |
| Net Income | 8.48 billion | 2.63 billion | -3.51 billion |
| Total Assets | 88.56 billion | 81.12 billion | 75.46 billion |
| Equity | 36.66 billion | 30.54 billion | 28.11 billion |
Operational Highlights
Suncor Energy operates with a focus on integrated operations ranging from upstream oil sands production to downstream refining.
| Operational Metric | 2022 | 2021 |
|---|---|---|
| Oil Sands Production (bbl/d) | 470,000 | 468,000 |
| Refining Capacity (bbl/d) | 468,000 | 468,000 |
| Renewable Energy Capacity (MW) | 1,200 | 1,150 |
Sustainability and Community Commitment
Suncor Energy is committed to sustainable practices through several initiatives:
- Reducing greenhouse gas emissions by 30% by 2030.
- Investing in renewable energy projects, targeting a total of 1.5 billion CAD by 2025.
- Engaging with local communities through outreach programs and partnerships.
Conclusion
Suncor Energy’s mission statement, encapsulated by their commitment to producing energy responsibly and sustainably, aligns with their financial performance and operational strategies, demonstrating a unified approach to energy production.
How Suncor Energy Inc. (SU) Works
Overview of Suncor Energy Inc.
Suncor Energy Inc. is a Canadian integrated energy company based in Calgary, Alberta. As of 2023, the company operates in various segments including oil sands, refining, and renewable energy. Suncor's market capitalization was approximately $49 billion CAD, and its stock trades on the Toronto Stock Exchange under the ticker symbol SU.
Oil Sands Operations
Suncor is one of the largest producers of oil from the oil sands in Canada. The company employs both mining and in-situ extraction methods to produce crude oil.
- Oil Sands Production (2023): Approximately 415,000 barrels per day
- Reserves (2022): 7.3 billion barrels of proven and probable reserves
| Year | Production (bbl/d) | Operating Costs ($/bbl) | Capital Expenditure ($ million) |
|---|---|---|---|
| 2021 | 380,000 | $30 | $2,300 |
| 2022 | 400,000 | $34 | $2,600 |
| 2023 | 415,000 | $36 | $2,900 |
Refining Segment
Suncor operates refineries that process crude oil into finished products. The company has a refining capacity of approximately 470,000 barrels per day.
- Refinery Locations: Edmonton, Calgary, and Sarnia
- Product Outputs: Gasoline, diesel, jet fuel, and asphalt
- Refining Margin (2023): $18.40 per barrel
| Refinery | Location | Capacity (bbl/d) | Utilization Rate (%) |
|---|---|---|---|
| Edmonton Refinery | Alberta | 146,000 | 95% |
| Calgary Refinery | Alberta | 135,000 | 92% |
| Sarnia Refinery | Ontario | 150,000 | 88% |
Renewable Energy Initiatives
Suncor has been investing in renewable energy projects as part of its sustainability strategy. The company aims to reduce its greenhouse gas emissions and diversify its energy portfolio.
- Wind Energy Portfolio: 1,200 MW of generation capacity
- Solar Energy Investments: Approximately $600 million in solar projects
- Sustainable Aviation Fuel Production: 200 million liters per year by 2025
Financial Performance
Suncor's financial performance reflects its integrated business model, leveraging both upstream and downstream operations.
| Year | Revenue ($ billion) | Net Income ($ billion) | EBITDA ($ billion) |
|---|---|---|---|
| 2021 | 36.5 | 2.2 | 9.1 |
| 2022 | 49.3 | 5.3 | 13.5 |
| 2023 | 45.8 | 4.7 | 12.0 |
Market Positioning and Strategy
Suncor aims to enhance its market position through strategic investments, operational efficiencies, and innovation.
- Focus on reducing operating costs by 10% over the next three years.
- Targeting a 30% reduction in greenhouse gas emissions by 2030.
- Investment in advanced technologies for oil extraction and refining processes.
How Suncor Energy Inc. (SU) Makes Money
Revenue Streams
Suncor Energy Inc. generates revenue through various segments, primarily focusing on upstream, downstream, and renewable energy operations.
Upstream Operations
The upstream segment includes the exploration, extraction, and production of crude oil and natural gas. In 2022, Suncor produced an average of approximately 747,100 barrels of oil equivalent per day (boe/d).
Key financial figures for upstream operations in 2022:
| Category | Amount |
|---|---|
| Average Price of Brent Crude | $101.50 per barrel |
| Production Volume | 275 million barrels |
| Total Upstream Revenue | $27.9 billion |
Downstream Operations
The downstream segment involves refining crude oil into finished products and marketing those products. Suncor operates three refineries in Canada, with a refining capacity of approximately 460,000 barrels per day.
Key financial figures for downstream operations in 2022:
| Category | Amount |
|---|---|
| Refining Capacity | 460,000 bpd |
| Refinery Utilization Rate | 92% |
| Downstream Revenue | $25.4 billion |
Marketing and Retail
Suncor's marketing and retail segment includes the sale of refined products through a network of retail outlets, primarily under the Petro-Canada brand. The company operates over 1,500 retail locations.
Key financial figures for marketing and retail in 2022:
| Category | Amount |
|---|---|
| Retail Fuel Sales Volume | 3.2 billion liters |
| Retail Revenue | $14.5 billion |
| Convenience Store Sales | $1.9 billion |
Renewable Energy Initiatives
Suncor is also investing in renewable energy sources, including biofuels and wind power. The company’s commitment to sustainability is reflected in its renewable energy production and the reduction of greenhouse gas emissions.
Key financial figures for renewable energy in 2022:
| Category | Amount |
|---|---|
| Renewable Fuels Production | 1.1 billion liters |
| Wind Power Generation Capacity | 1,100 MW |
| Total Renewable Revenue | $1.3 billion |
Cost Management
Efficient cost management is critical for Suncor’s profitability. The company focuses on operational efficiency and cost reductions across all segments.
Key metrics for cost management in 2022:
| Category | Amount |
|---|---|
| Operating Expenses (Upstream) | $15.0 billion |
| Operating Expenses (Downstream) | $3.5 billion |
| Consolidated Operating Income | $11.2 billion |
Market Position and Future Outlook
Suncor's strategic initiatives, including technological innovations and market expansions, position the company favorably in the energy sector. In 2022, Suncor's market capitalization was approximately $38 billion.
Forecasted growth areas include increased production capacities in both fossil fuels and renewable energies, reflecting a shift towards a more balanced energy portfolio.
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