Suncor Energy (ticker: SU) - teerzandfonds
Suncor CEO eyes Gulf Coast for oil-sand crude
Mon Mar 20, 2006 3:39 PM ET
By Erwin Seba
SALT LAKE CITY, March 20 (Reuters) - The millions of barrels of crude oil developed from Canadian oil sands in the coming decades could be shipped to the U.S. Gulf of Mexico, the West Coast or Asia, Suncor Energy Inc. (SU.N: Quote, Profile, Research) Chief Executive Richard George said on Monday.
Suncor pioneered the production of oil from oil sands or bitumen in Alberta "where the oil isn't under the sand, it's wrapped around the sand," George said in a speech at the National Petrochemical and Refiners Association annual meeting in Salt Lake City, Utah.
Suncor is now producing 260,000 barrels of oil per day from oil sands and expects the output to grow to 3 million barrels by 2015 and 5 million barrels per day by 2030.
Current production goes to Canada and is exported to the U.S. Rocky Mountain and Midwest states.
"While the Midwest and Rocky Mountain markets should continue to benefit from stable supplies from Canada, we'll need to reach further into the market as those millions of new barrels come on stream in the coming decades," George said.
Gulf connections could be made by extending existing pipelines. California could be reached by building pipelines to terminals for tankers to run from Canada's west coast to refineries in California.
"The Gulf Coast holds obvious attractions," he said. "It's the largest refining complex in the world. And with about half of the United States' coking and hydrocracking capacity, it already has the right pots and pans to run a wide variety of oil sands product slates."
California's refineries also have the capability to process high-density and high-sulfur crude oil "that could align with oil sands products," George said.
Oil production from the Alaska North Slope and California is declining, leaving California refiners to look for imports from Latin America.
"Of course, the same West Coast pipes that would open the California market also open the Asian market," he said. The large economies of Japan, Korea, and especially China are hungry for a stable supply of crude."
Kinder Morgan Inc. (KMI.N: Quote, Profile, Research) has already announced plans to extend pipelines from Alberta to the Canadian west coast and U.S. Puget Sound.
Suncor Energy reports oil sands production numbers for March 2006
Thursday April 6, 6:00 am ET
CALGARY, April 6 /CNW/ - Suncor Energy Inc. reported today that production at its oil sands facility during March averaged approximately 264,000 barrels per day (bpd) of upgraded crude oil. No in-situ bitumen production was sold directly to the market in March; all production was upgraded to synthetic crude oil.
Year-to-date oil sands production at the end of March averaged approximately 264,000 bpd. Suncor is targeting average oil sands production of 260,000 bpd in 2006.
On a monthly basis, Suncor reports production numbers from its oil sands operation in order to provide stakeholders with a more timely review of operational performance. These numbers are preliminary and subject to adjustment. Monthly totals may differ from year-to-date total due to rounding, the impact of sales and changes in inventory. Production volumes will be confirmed when Suncor's first quarter results are released May 4, 2006.
This news release contains a forward-looking statement identified by the word "targeting", which is based on Suncor's current expectations, estimates, projections and assumptions made in light of its experiences and the risks, uncertainties and other factors related to its business. Actual events could differ materially as a result of changes to Suncor's plans and the impact of events, risks and uncertainties discussed in Suncor's current annual information form, annual and quarterly reports to shareholders and other documents filed with regulatory authorities.
Voor wat het waard is. Citigroup heeft Suncor Energy op BUY gezet:
hierbij de details van de Citigroup aanbeveling (zeker interessant aandeel, maar wel een slag riskanter dan een gewoon olie-aandeel: als de olieprijs fors zou zakken - ik zeg niet dat dat waarschijnlijk is - dan hangen ze):
Suncor (SU) is unique amongst the North American oil majors through a strategy that revolves mainly around its abundant oil sands resource. While this affords extended visibility to one of the most aggressive growth targets in the sector,
it comes with a materially higher cost structure than many conventional producers leaving earnings amongst the most exposed to changes in oil prices -- and a major beneficiary of rising long-term oil prices expectations. With little risk from exploration, execution and reliability lie at the core of the equity story. Here, performance has been checked by frequent downtime that has
denied earnings full leverage to the strong macro environment while also exposing SU's significant fixed cost structure. But reliability appears to be
recovering in 2006 reinforcing higher sustainable earnings expectations and driving sector leading EPS growth of around 90% over 2005. Looking ahead,
growth targets and the associated (considerable) capital requirement has been split into manageable chunks intended to reduce both management risk and
capital-commitment in what remains, still, a volatile price environment while avoiding the pitfalls of the past. To this end, hedging continues to play a strategic role in managing the balance sheet - and may do so again in future,
but eying floor prices of $50 per barrel!
At current levels, the shares look attractive vs historical earnings metrics; in absolute terms, we believe Suncor's DCF easily justifies our C$110 price target. We initiate coverage with
a Buy (1M, Med Risk).
Is RDS niet veel interessanter? Veel langere K/W en minder risico bij dalende olieprijs. De stijging van laatste jaar heeft natuurlijk veel te maken met de stijgende olieprijs (veel hogere hefboom). Maar RDS zou juist een hogere K/W moeten worden toegeschreven gezien het lagere risico. Nadeel voor RDS is natuurlijk een snel teruglopende voorraad.
Blijft natuurlijk moeilijk. Verder nog een vraag voor jullie. Ik bezit Repsol, gekocht net na het terugschroeven van de voorraad en denk er over om te verkopen gezien de "rode nationale revolutie" in sommige landen waar zij actief zijn.
Iemand een mening?
Suncor Energy (U.S.A.) Inc. ramps up production with completion of maintenance shutdown
Monday April 17, 4:41 pm ET
All financial figures in U.S. dollars
DENVER, April 17 /CNW/ - Suncor Energy (U.S.A.) Inc. announced today it has completed a planned maintenance shutdown to a portion of its Commerce City refining operations.
The plant is now ramping up to its production capacity of 90,000 barrels of oil per day. During the shutdown, which began February 3, 2006, refinery rates were reduced to about 34,000 barrels per day.
"While the maintenance turnaround lasted longer than initially planned, our key goal was to complete the job safely, thoroughly and with as little impact to our community neighbors as possible," said Nancy Thonen, refinery general manager. "We accomplished that goal."
"This was the largest and most complex shutdown in the refinery's history. Approximately 400 employees and 1,800 contractors worked over the past two months to help provide more reliable production and improve environmental performance at our refining operations."
During the maintenance shutdown, the company also began commissioning some of the new units for its Odyssey project. The new units are expected to allow Suncor to process 10,000 to 15,000 barrels per day of oil sands sour crude and meet environmental regulations that limit sulfur levels in on-road diesel fuel. Suncor expects the remaining units to come online during the second quarter of 2006.
During the maintenance shutdown equipment was also installed to reduce refinery emissions.
While modifications will allow the refining facilities to process more crude oil feedstock from the company's Canadian operations, Suncor remains a major purchaser of Rocky Mountain crude oil, last year averaging nearly 65,000 barrels of local crude oil per day.
Through the course of the shutdown, Suncor made arrangements to ensure continued supply of petroleum products to its customers. Colorado's retail fuel prices remained below the national average during the shutdown period, reflecting minimal impacts to retail fuel supplies in the state.
The 90,000 barrel per day refining facility is located in Commerce City, about six miles northeast of downtown Denver. It supplies about 35 percent of Colorado's gasoline and diesel fuel demand and is a major supplier of jet fuel to the Denver International Airport. It is also the largest supplier of paving-grade asphalt in Colorado.
This news release contains forward-looking statements. The forward- looking statements may be identified by words like "ramping up to", "expected" and similar expressions. These forward-looking statements are based on current conditions and assumptions and are not a guarantee of future events. Actual events could differ materially as a result of changes to Suncor's plans and the impact of certain events, risks and uncertainties.
Suncor Energy increases dividend
Tuesday April 25, 8:01 pm ET
(All financial figures are in Canadian dollars.)
CALGARY, April 25 /PRNewswire-FirstCall/ - Suncor Energy Inc.'s Board of Directors has approved a quarterly dividend of $0.08 per share on its common shares, payable June 23, 2006, to shareholders of record at the date of close of business on June 2, 2006.
The quarterly dividend was increased from its previous level of $0.06 per share. In 2005, four quarterly dividends totaling $0.24 per common share were declared and paid.
"This increase in our dividend provides an immediate reward to our shareholders for our financial performance, yet still enables us to fund the growth initiatives that target future rewards," says Ken Alley, senior vice president and chief financial officer.
Suncor's Board of Directors has established a policy of paying dividends on a quarterly basis. This policy is reviewed from time to time in light of Suncor's financial position, its financing requirements for growth, its cash flow and other factors considered relevant by Suncor's Board of Directors.
Annual Report Suncor Energy. Is wel wat bruikbare info uit te halen:
Gisteren weer een mooie stijging
SU 17.47 +0.62 +3.68%
SU.TO 22.24 +0.69 +3.20%
deze nacht resultaten bekend gemaakt en zoals verwacht niet goed door de pandemie, dat kan dit jaar alleen maar beter worden
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