SUNCOR ENERGY INC (SU)

Suncor Energy Inc. is Canada's leading integrated energy company, with operations spanning the energy value chain: oil sands mining and in situ production, upgrading, offshore oil production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide Petro-Canada retail and wholesale networks. It was formed in 1979 and amalgamated with Petro-Canada in 2009. Its common shares trade on the TSX and NYSE under the symbol SU.

The company reports four segments: Oil Sands, Exploration & Production (E&P), Refining & Marketing (R&M), and Corporate & Eliminations. The Oil Sands segment, in the Athabasca region of northeast Alberta, produces bitumen from mining at Base Plant, Syncrude (58.74% interest, operated by Suncor) and the wholly owned Fort Hills, and from SAGD in situ operations at Firebag and MacKay River. Total bitumen production was about 937.5 mbbls/d in the latest year. Integrated upgraders at Base Plant and Syncrude turn bitumen into synthetic crude oil and diesel, and cogeneration facilities of about 2,228 MW sell excess power to the Alberta grid. The E&P segment includes offshore Newfoundland and Labrador interests in Terra Nova, Hibernia, White Rose and Hebron, with about 57.5 mbbls/d of production, plus onshore assets in Libya and Syria. Libyan output has been intermittent due to political unrest, and Syrian operations are suspended under force majeure. The R&M segment is referenced through Suncor's refineries in Edmonton, Sarnia, Montreal and Commerce City, and through the Petro-Canada brand, but its detailed description is not included in the text provided.

Oil Sands SCO and bitumen are sold mainly to refiners in North America and Asia, and diesel is sold mainly in Western Canada and the U.S. Offshore East Coast crude is shipped by shuttle tanker to customers or to a transshipment terminal in Placentia Bay, for markets in Eastern Canada, the U.S., Europe, Latin America and Asia. E&P sales are made on a spot basis rather than under long-term supply arrangements, and in Libya the National Oil Corporation markets the crude on Suncor's behalf. Recent retail developments include a co-ownership agreement with North Atlantic and a partnership with Canadian Tire Corporation to rebrand more than 200 fuel sites to Petro-Canada.

Oil Sands production moves through the Enbridge Athabasca Terminal and East Tank Farm, and Syncrude's moves via the Pembina Alberta Oil Sands Pipeline. Products flow to Edmonton and Hardisty and onward to Suncor's own refineries and to other major refining hubs through pipelines such as Enbridge Mainline, Platte, Keystone and Trans Mountain, or by rail. Suncor owns storage capacity at Edmonton and Hardisty and owns and operates the Rocky Mountain Pipeline. It operates Terra Nova, while Cenovus operates White Rose, ExxonMobil operates Hebron, and Hibernia Management and Development Company operates Hibernia. Suncor is deploying autonomous haulage systems at its mines and developing Expanding Solvent SAGD technology. Its registered and head office is at 150 – 6th Avenue S.W., Calgary, Alberta.