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Suncor Energy Announces 2024 Corporate Guidance
All financial figures are in Canadian dollars, unless noted otherwise Upstream production of ...
About this update from Suncor Energy Inc.
[{"type":"text","content":"Suncor Energy Announces 2024 Corporate GuidanceAll financial figures are in Canadian dollars, unless noted otherwiseUpstream production of 770,000 - 810,000 barrels per day, approximately 7% higher than 2023 Refining capacity utilization strong at an expected 92% to 96%Fort Hills three-year improvement plan on target, with opportunities to further increase value Capital program to deliver shareholder value, pursuing investments to improve competitiveness Focus on continuing to reduce overall cost structure, increasing financial resiliency Calgary, Alberta--(Newsfile Corp. - December 5, 2023) - Suncor Energy (TSX: SU) (NYSE: SU) released its 2024 corporate guidance today which includes annual upstream production of 770,000 - 810,000 barrels per day (bbls/d) and refining utilization of 92% to 96%. Suncor's production increase reflects continued strong existing asset performance, 100% ownership of Fort Hills, changes to the makeup of its Exploration & Production (E&P) portfolio, including the earlier sale of its U.K. North Sea assets, and a full year of production from Terra Nova.\"Suncor's 2024 guidance reflects our priority to deliver improved shareholder returns through focused cost reductions, increased upstream production and a disciplined capital investment program, all targeted at improving the company's free funds flow per share,\" said Rich Kruger, President and Chief Executive Officer. \"We have a winning formula to create value through our unparalleled, integrated upstream and downstream asset base, and an intense focus to deliver value to our shareholders.\"Production Guidance   2024 Full Year Outlook Total Production (bbls/d) 770,000 - 810,000 Oil Sands Operations (bbls/d) (1) 430,000 - 460,000    Synthetic Crude Oil (bbls/d) 315,000 - 330,000    Bitumen (bbls/d) 115,000 - 130,000 Fort Hills (bbls/d) Suncor working interest of 100% 155,000 - 165,000 Syncrude (bbls/d) Suncor working interest of 58.74% 175,000 - 190,000    Inter-Asset Transfers and Consumption(2) (35,000) - (60,000) Exploration and Production (bbls/d) 45,000 - 55,000               Refinery Throughput (bbls/d) 430,000 - 445,000 Refinery Utilization (3) 92% - 96% Refined Product Sales (bbls/d) 550,000 - 580,000  1) Oil Sands Operations production includes synt...