Suncor Energy is a Canadian integrated energy company based in Calgary, Alberta. The company specializes in production of synthetic crude from oil sands. Until 2010, Suncor marketed products and services to retail customers in Ontario through a downstream network of 280 company-owned, and 200 customer-operated retail and Diesel fuel sites, primarily in Ontario under the Sunoco brand (owing to Suncor having originally been established as a subsidiary of Sunoco). In 2009, Suncor successfully acquired the former Crown corporation Petro-Canada, which replaced the Sunoco brand across its existing outlets. Suncor also markets through a retail network of Shell and ExxonMobil branded outlets in Colorado.
The stock price of Suncor Energy (TSX:SU)(NYSE:SU) is becoming quite low. The stock was also quite low in the March market crash. Investors are wondering if this stock is worth buying. Suncor stock is below $17 per share right now. The shares were a low near $15 in March. Many other top stocks on the TSX Index certainly performed better over the past six months.
Suncor is Canada’s largest integrated energy company with production, refining, and retail operations. The current economic situation is unique and dangerous. The Covid-19 Pandemic health crisis has resulted in the recession and collapse in oil prices. Unfortunately, necessary pandemic lockdowns forced airlines to cut capacity by more than 90% in recent months. Many people used cars less. People tried to work from home as much as possible. Certain trucking companies parked fleets of delivery vehicles during a drop in demand for goods. Many places closed: restaurants, stores and factories.
The global economy will stabilize again, when vaccines are widely available and the health crisis is under control. Fuel demand could increase in the next few years, just as oil prices take off. Suncor is planning to achieve $1 billion in operating cost reductions in 2020. Capital expenditures should drop by $1.9 billion. Liquidity stood at $8.65 billion at the end of June, so Suncor has enough cash to ride out the downturn. You could consider buying Suncor stock. This could be a profitable investment. Suncor wants to increase its Suncor market share in the market with suncor stock.
Suncor Energy has a valuation of about $60 billion. Suncor Energy (TSX:SU)(NYSE:SU) has certainly become one of the largest energy companies in Canada. The path to get to it was long and difficult. In 1967, Suncor was the first to commercially develop Canada’s oil sands. These expensive oil sands remain some of the largest oil reserves in the world. The company has become an oil sands giant with controlling interests in mega-projects like Fort Hills and Syncrude. Suncor energy stock is hoping to increase.
Here are the Suncor Energy Subsidiaries:
Petro-Canada
Canadian Oil Sands
Fort Hills Energy Limited Partnership
Suncor Energy Marketing Inc.
PC Financial Partnership
ParaChem Chemicals L.P.
Suncor Energy UK Limited
3908968 Canada Inc
Voyageur Upgrader Limited Partnership
Suncor Energy UK Holdings Ltd.
Amerada Hess Canada Ltd.
Suncor Energy Operating Inc.
Petro-Canada Denmark GmbH
Suncor Energy (U.S.A.) Inc.
Suncor Energy (Natural Gas) America Inc.
Petro-Canada (Us) Holdings Ltd.
HES Deir Ez Zor GmbH
Suncor Energy Products Inc.
Petro-Canada Oil Sands Inc.
Petro-Canada Energy North Sea Limited
Petro-Partners Limited
Forty Mile Granlea Wind GP Inc.
Suncor Energy (U.S.A) Marketing, Inc.
Suncor Energy Services Inc
Petro-Canada Resources (USA) Inc.
Suncor Energy Products Partnership
Suncor Energy Norge AS
(Suncor Energy is not to be confused with Suncor Stainless Inc - one of the world's most complete selections of stainless steel hardware)
Investors are waiting for suncor stock price to increase. Suncor careers have much to offer.
How many refineries does Suncor have? 4 refineries. Suncor owns and operates four refineries (with a combined capacity of 460,000 barrels per day), Canada's largest ethanol plant, wind farms, and a network more than 1,500 retail and wholesale outlets which provide North American consumers with secure sources of useful energy.
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