Suncor sees FY25 annual upstream production 810,000-840,000 bbls/d

Suncor (SU) Energy released its 2025 corporate guidance including growing annual upstream production to 810,000 to 840,000 bbls/d as well as increased annual refining utilization of 93% to 97%, both reflecting the sustainability of the higher performance achieved throughout 2024. Suncor’s upstream production increase is consistent with the plan presented at its Investor Day earlier this year and builds on the tangible improvements to free funds flow growth achieved in 2024, which are ahead of target. Upstream production reflects planned turnaround and maintenance activities during the year; including a 91-day outage at Base Plant Upgrader 1 for the coke drum replacement project. Downstream utilization also reflects the impact of planned turnarounds at the Edmonton and Sarnia refineries totaling 58 and 40 days, respectively.