A stellar end to 2016, as Suncor posted an 83% year-on-year rise in quarterly operating cash flow, increased its dividend and delivered a strong operational performance. Improved upgrader reliability at Syncrude was of particular significance given the upside to Suncor's total production, following its increased interest in the project. The company's full-year volumes rose 8% year-on-year as a result, despite a material negative impact from Albertan wildfires in Q2.
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The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.
This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.
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Company report | Feb 2017
Suncor Energy corporate - reported results analysis
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