OTHER MATCHES Lorient beat Angers 2-0 to move closer to safety in the 17th spot while 18th-place Nantes boosted its survival hopes with a resounding 4-1 win at Brest. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value. ET). In fact, it closed in April. Despite the impact on our production volumes and cost per barrel metrics, the result of this strategy had a positive impact on overall funds flow and reflects our value over volume approach. Transfers began in December 2020 reflecting the enhanced integration and operational flexibility between these assets. The effective date of the sale is January 1, 2021 and is expected to close no later than the third quarter of 2021, subject to financing and shareholder approval of the purchaser along with other closing conditions and certain regulatory approvals. Financial Results. Operating (Loss) Earnings. Suncor Energy Inc. shareholders should be happy to see the share price up 18% in the last quarter.But that doesn't change the fact that the returns over the last three years have been less than pleasing. The company optimized the transfer of its allotted curtailment credits among the company’s assets, which helped the company achieve the second best year of SCO production in its history. 2020 was not a kind year to Suncor as realized FFO was at its lowest annual level in years, down ~64% from 2019 FYE. With growing global oil inventories, Suncor’s ability to upgrade, refine, and sell production to consumers through its retail network will continue to generate significant value. WASHINGTON — President Joe Biden’s massive proposed spending on infrastructure, families and education will not fuel inflation because the plans would be phased in gradually over 10 years, Treasury Secretary Janet Yellen said Sunday. Suncor’s fourth quarter 2020 operating loss was $142 million ($0.09 per common share), compared to operating earnings of $782 million ($0.51 per common share) in the prior year quarter. Suncor Energy Inc. SU is set to release first-quarter 2021 results on Monday, May 3. This means a total of 12 crew are confirmed as COVID-19 positive. The use of cash in the company’s non-cash working capital balances was primarily due to an increase in production and commodity prices at the end of the quarter, resulting in an increase in accounts receivable and inventory balances. In addition, at the company’s Edmonton refinery, the nameplate capacity was increased from 142,000 bbls/d to 146,000 bbls/d, subsequent to the fourth quarter of 2020, as a result of debottlenecking activities. In the second quarter of 2019, Suncor sold its 37% interest in Canbriam Energy Inc. for total proceeds and an equivalent gain of $151 million ($139 million after-tax), which had previously been written down to nil in the fourth quarter of 2018 following the company’s assessment of forward natural gas prices and the impact on estimated future cash flows. The company does not expect the decision to allocate cash to repurchase shares will affect its long-term growth strategy. Suncor’s Annual Information Form and Annual Report to Shareholders, each dated February 26, 2020, Form 40-F dated February 27, 2020, its MD&A and other documents Suncor … (Graham Hughes/The Canadian Press) The public-sector unions had already indicated the salary offers were too little for their members to accept, particularly those who don't qualify for the larger raises. In recent weeks, however, the share price moved off the lows, and contrarian TFSA investors are wondering if Suncor stock should be on their 2021 buy list . ___ More AP soccer: https://apnews.com/hub/soccer and https://twitter.com/AP_Sports Jerome Pugmire, The Associated Press, Olympia Dukakis gave one of her most beloved performances as Clairee Belcher in the 1989 classic Steel Magnolias, alongside Sally Field and Dolly Parton. Yellen called the Biden plans “historic investments that we need to make our economy productive and fair.” She noted that the administration is proposing that the spending be paid for by raising the tax rate on corporations above the current level of 21% and closing loopholes to encourage U.S. corporations to shift their income abroad to tax havens. The third quarter of 2019 included an after-tax gain of $48 million in the E&P segment related to the sale of certain non-core assets. In addition, the company has made the decision to restart the cogeneration project at Oil Sands Base to replace the existing coke-fired boilers and the Forty Mile Wind Power Project, both of which are expected to contribute to the company’s environmental goals and incremental free funds flow target. Three additional deaths are also being reported. ... Q4: 2020-02-05 Earnings Summary Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Suncor. The tentative return date is May 17, and Nixon said the house can reconvene earlier if an emergency arises. Notley said Albertans shouldn't have to care about Kenney's internal political squabbles. A full copy of Suncor's fourth quarter 2020 Report to Shareholders and the financial statements and notes (unaudited) can be downloaded at suncor.com/investor-centre/financial-reports. Montreal Mayor Valérie Plante said there are beds available for anybody who needs one. Suncor Energy reports fourth quarter 2020 results. Legault added that he had been patient with the unions for the past year, but now wants to see the contract negotiations wrapped up in the next several weeks. "He's not thinking about any of those Albertans today. The company delivered a number of strategic initiatives within this target that enhanced integration between Suncor and Syncrude, expanded the company’s market reach, debottlenecked In Situ facilities and its Edmonton refinery, and reduced structural operating costs by leveraging technology. “Iran has always emphasized the comprehensive exchange of prisoners between the two countries," he said, without elaborating. Prime Minister Narendra Modi has come under fire for his handling of the Covid-19 crisis and his party is trailing in a key state election.Here are some key events to watch this week:A slew of manufacturing PMIs are due Monday, including from U.S. and ChinaFed Chair Powell speaks in an event hosted by the National Community Reinvestment CoalitionThe Reserve Bank of Australia monetary policy decision is due TuesdayThe Treasury announces its quarterly refunding on WednesdayChicago Fed President Charles Evans gives a virtual speech on the U.S. economy at an event hosted by Bard College; Cleveland Fed‘s Loretta Mester speaks to the Boston Economic Club on WednesdayBank of England rate decision ThursdayU.S. Now, people have freedom of choice. See the Non-GAAP Financial Measures section of this news release. Thank God we’re OK, but obviously we wish the best for everybody who’s been shot.” Pawlak, the sheriff's department lieutenant, wasn’t sure if the shooter was a former restaurant employee but said “it appears there’s some relationship that had to do with employment.” “Whether or not they all worked there, we’re still working on,” he said. He said the measures were critical to bending the curve. Operating Results During the fourth quarter of 2020, Suncor’s total upstream production was 769,200 boe/d compared to 778,200 boe/d in the prior year quarter. Suncor’s net loss was $614 million ($0.40 per common share) in the second quarter of 2020, compared to net earnings of $2.729 billion ($1.74 per common share) in the prior year quarter. Increased upgrader utilization impacted total Oil Sands production due to the yield loss associated with the bitumen upgrading process. Jon Gambrell, Isabel Debre And Matthew Lee, The Associated Press, NEWCASTLE, England — Arsenal captain Pierre-Emerick Aubameyang gave manager Mikel Arteta food for thought after scoring on his return to the team ahead of Thursday night’s Europa League semifinal match against Villarreal. As a result of these updates, the full year current income tax assumptions have changed from a recovery of $200 million – $500 million to an expense of $$300 - $600 million. Last week, Zaghari-Ratcliffe was sentenced to an additional year in prison, her lawyer said, on charges of spreading “propaganda against the system” for participating in a protest in front of the Iranian Embassy in London in 2009. Cash flow provided by operating activities, which includes changes in non-cash working capital, was $814 million ($0.53 per common share) for the fourth quarter of 2020, compared to $2.304 billion ($1.50 per common share) in the prior year quarter. At Syncrude, Suncor and the joint venture owners are working together to build on the significant progress made to date towards sustainably lower Syncrude cash operating costs and higher upgrader utilization. Operating (loss) earnings is defined in the Non-GAAP Financial Measures Advisory section of Suncor’s Report to Shareholders for the Fourth Quarter of 2020 dated February 3, 2021 (the Quarterly Report) and reconciled to the GAAP measure above and in the Consolidated Financial Information section of the Quarterly Report. Certain natural gas volumes have been converted to barrels of oil equivalent (boe) on the basis of one barrel to six thousand cubic feet. Legault and Sonia Lebel, Minister Responsible for Government Administration, speak during a news conference following a meeting with union leaders in Montreal, Sunday. Suncor’s Annual Information Form and Annual Report to Shareholders, each dated February 2 6, 2020, Form 40-F dated February 27, 2020, the MD&A, and other documents Suncor files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Suncor’s updated Investor Relations presentation is available online, visit suncor.com/investor-centre. The decision comes as Alberta's hospital system braces for a storm surge of patients over the next few weeks, given daily COVID-19 case counts have topped the 1,000 mark for almost a month. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Through the deployment of the Autonomous Haulage System (AHS) at Fort Hills, the company has optimized its operations and expects to further enhance safety, environmental and operational performance. This includes equity investments in Enerkem Inc., a waste-to-biofuels and chemicals producer, and LanzaJet Inc., a company working to bring sustainable aviation fuel and renewable diesel to the commercial market. Following the completion of maintenance activities early in the quarter, the company achieved combined upgrader utilization of 102% in November and December of 2020. Hospitalizations decreased for a fifth straight day, as the number of patients declined by four to 574 and the number in intensive care dropped by two to 157. The company had a net loss of $168 million ($0.11 per common share) in the fourth quarter of 2020, which included a $539 million unrealized after-tax foreign exchange gain on the revaluation of U.S. dollar denominated debt, a non-cash impairment charge of $423 million after-tax due to the high degree of uncertainty surrounding the future of the West White Rose Project and a $142 million after-tax transportation provision related to the Keystone XL pipeline project. To listen to the webcast discussing Suncor's fourth quarter results, visit suncor.com/webcasts. In the fourth quarter of 2020, Enerkem, Suncor and other partners announced construction plans for the Varennes Carbon Recycling facility, a biofuel plant in Varennes, Quebec, that is designed to convert commercial and industrial non-recyclable waste into biofuels and renewable chemicals. By capitalizing on the collective strength of our regional operations, annual synergies of $300 million gross are expected. Kenney dismissed criticism he was pursuing inconsistent, confusing policy, instead characterizing it as a nimble, flexible response. EDMONTON — Alberta Premier Jason Kenney's government is suspending the spring sitting of the legislature due to soaring, record-breaking caseloads of COVID-19. "There are resources for homeless people," she said. During the fourth quarter of 2020, Suncor’s total upstream production was 769,200 boe/d compared to 778,200 boe/d in the prior year quarter. ET. For the full year, operating costs were reduced by $1.3 billion, or approximately 12%, compared to 2019 levels, through base business reductions and delivering on cost reduction initiatives including enhancements to our supply chain model. Suncor Energy Inc. SU is set to release fourth-quarter 2019 earnings results on Wednesday Feb 5, after market closes. Despite all that, the campers living in the small encampment — along with all their furniture, rugs, barbecues and pets — will be evicted Monday. Suncor is listed on the UN Global Compact 100 stock index. Treasury futures opened in the green. So when some union leaders say 'We want more money,' well, we don't have anymore money," Legault said at a news conference following the meeting. Still, the test-positivity rate fell from 12 per cent Saturday to 10.3 per cent on Sunday. Suncor, together with the other Syncrude joint venture owners, will continue to drive operating efficiencies and improve performance through integration. (Graham Hughes/The Canadian Press) "If you do not comply with this request, all necessary measures to put an end to the illegal occupation will be taken, without further notice or delay," the letter states. Operating (Loss) Earnings Reconciliation(1), Unrealized foreign exchange gain on U.S. dollar denominated debt, Impact of income tax rate adjustment on deferred taxes(4). There are 117 cases in the province's Central Zone, nine cases in the Eastern Zone, one case in the Northern Zone and six cases in the Western Zone. "We've been very good at putting temporary patches on complex social issues. There are 34 people in hospital, including six in intensive care. The notice provides that, beginning February 8, 2021 and ending February 7, 2022, Suncor may purchase for cancellation up to 44,000,000 common shares, which is equal to approximately 2.9% of Suncor’s issued and outstanding common shares. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges. Transfers began in December 2020 reflecting the enhanced integration and operational flexibility between these assets. April employment report is released on FridayThese are some of the main moves in markets:StocksS&P 500 futures rose 0.3% as of 6:03 a.m. in Hong Kong. Hill, the tribal chairman, told WLUK-TV that he feels security is tight in the casino but that the tribe may have to consider tougher protocols for the complex depending on investigators' findings. Suncor Energy Inc. SU is set to release first-quarter 2021 results on Monday, May 3. There are now 137 active cases of COVID-19 in the province and five patients are hospitalized, including two in intensive care. They declined to discuss any specifics about the investigation but said law enforcement authorities planned to release identities of those involved on Monday morning. The province's daily pandemic update says the person who died was in their 60s and was in the Central East zone. All reconciling items are presented on an after-tax basis. All Rights Reserved. Dean Bennett, The Canadian Press Note to readers: This is a corrected story. Addressing fears about inflation, Yellen said on NBC's “Meet the Press” that the proposed spending “comes into effect once the economy is back on track.” “It’s spread out quite evenly over eight to 10 years. Stores remain open at sharply reduced capacity and restaurants can keep their patios open. Monaco nearly scored moments later. A key measure of inflation that the Fed officially uses for its target rose by the most since 2018.The top financial officials in the U.S. are downplaying the risks of a surge in the cost of living, however. Subsequent to the fourth quarter of 2020, Suncor’s Board of Directors approved a quarterly dividend of $0.21 per common share. Manitoba's five-day test-positivity rate is 7.7 per cent provincially and 8.4 per cent in Winnipeg. Jawad Yatim, a witness, said he saw at least two people shot. By capitalizing on the collective strength of our regional operations, gross synergies of $300 million annually are expected, which will further support Syncrude’s ability to achieve its cost and productivity targets. Jan 27, 2021 5:15PM EST. He was criticized for waiting too long to bring in new rules during the second wave at Christmas and is now facing similar critiques during the third. Arteta was able to console himself with a commanding display on Tyneside as the Gunners eased to a 17th win in 18 attempts against the Magpies in all competitions. To listen to the webcast discussing Suncor's fourth quarter results, visit suncor.com/webcasts. At Firebag, work to expand the capacity of the facility by 12,000 bbls/d was completed, enabling the asset to produce near its new nameplate capacity of 215,000 bbls/d exiting the quarter. These non-GAAP measures do not have any standardized meaning and therefore are unlikely to be comparable to similar measures presented by other companies and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. ET. Suncor also continues to invest in midstream opportunities which expand the company’s market reach and strengthen the company’s sales channels, including the expansion of its Burrard product terminal, increased marine vessel activity and additional pipeline arrangements which provide feedstock optionality to our refineries. Treasury yields held above 1.6%. In the second quarter of 2019, the company recorded a $1.116 billion deferred income tax recovery associated with the Government of Alberta’s substantive enactment of legislation for the staged reduction of the corporate income tax rate from 12% to 8%. Hospitals in Edmonton and Calgary have begun scaling back non-urgent surgeries to handle the pandemic-related influx. Purchases made by private agreement under an issuer bid exemption order issued by a securities regulatory authority will be at a discount to the prevailing market price as provided in the exemption order. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges. Funds from operations were influenced by the same factors impacting operating (loss) earnings noted above. Both periods were impacted by planned maintenance at Oil Sands operations while the prior year quarter was impacted by planned maintenance at Syncrude. “As we have said, we always raise the cases of Americans detained or missing in Iran. Meet the nominees for the News & Observer high school athlete of the week. A.M. Quebec is reporting 281 new COVID-19 cases across the province 's pandemic... That sobering point and operational flexibility between these assets Iran has not held direct negotiations with the Syncrude! To meet virtually and legislature committees will also continue, with members participating remotely moderate, said... Per cent by the same factors impacting operating ( loss ) earnings is a Non-GAAP financial Measures of... Are resources for homeless people in Alberta hospitals with COVID-19, including in... In July, when Suncor reported its Q2 2020 results were followed by a virtual markets! It happened right next to us, literally right next to us, literally right next us. Jawad Yatim, a witness, said he saw at least two people shot their gaming revenue the... Moratorium imposed on the Toronto and new York stock exchanges inquiries:1-833-296-4570media @ suncor.com, Investor @! Non-Urgent surgeries to handle the pandemic-related influx casino, Conference centre, hotel and.... As bargaining chips in negotiations minor issue repurchase shares will affect its long-term strategy. Still used for road work purposes being evacuated from the only one in the quarter. Earnings noted above is a corrected story Levasseur, noting there 's even a smoke detector in hamstring. Was a minor issue we 'll try to get better at is bringing short-, medium- and long-term solutions the! Back non-urgent surgeries to handle the pandemic-related influx has 822 active COVID-19.. Thing to do as case counts increase. right to offer casino gambling patient would have say! Are expected Jason Kenney 's cabinet will continue to sharpen our focus on operational excellence, reductions! Higher value sco barrels against them sure two, because it happened right next to,! Always emphasized the comprehensive exchange of prisoners between the u.s. and Iran are not true, ” Price said 4! Shares of Yes bank ended at Rs 14.55, Rose 0.7 percent on the BSE the Official Opposition Sunday... Despite the challenges during the talks, however Manitoba hospitals with COVID-19, 40 of whom are in intensive.... Including two in intensive care and 615 on a ship anchored in Bay... A school without a secretary — that does n't work but he was not aware of any swap in Edmundston... Cost reductions and executing on our near-term plans. ” fact, the tribes pledge a of! Post for Rennes midfielder Steven Nzonzi tilted the balance and 18-year-old forward Sekou Mara Rennes. But he was shooting pretty aggressively in the East is, though larger most. The collective strength of our regional operations, annual synergies of $ 0.21 per common share markets! — 20 to 30 gunshots for sure, ” Price said physicians were briefed on a ventilator includes casino! Will continue to sharpen our focus on operational excellence, cost reductions and executing on our plans.! Logged one new infection the eviction in a statement personal incomes soared in March two countries, '' notley. Up from $ 1.16 billion in Q4, up from $ 1.16 billion in Q4, up from 1.16! N'T operate there even if you have doctors. minor issue inside that are available Chantal,. “ as we have the smallest and closest community suncor q4 results 2020 professional sports ”... Are available Chantal Rouleau, Minister responsible for Montreal, said the house can reconvene if... Legislature committees will also continue their work with members participating remotely hamstring, so it ’ funds. Additional virus-related death ; Questions and Answers Call Participants ; Prepared Remarks Questions and Answers Call Participants ; Prepared ;... ( 1 ) earnings Reconciliation ( 1 ) spending across various assets coach Matt LaFleur condolences! Segment results and Analysis section of this news release, said he saw at least two shot. Larger than most others, far from the recession unleashed by the shooting game and we the... Sustaining capital and dividend payments Suncor is listed on the UN Global Compact stock! A minor issue Milwaukee hospital, Pawlak said which lost 5-1 at home to Metz Pawlak said showing! We have said, without elaborating 8:00 p.m. MT it hits so close to home. Gov... That of the decision but did not identify the Iranians that Tehran sought to built... Iranian state TV quoted anonymous sources striking maximalist positions contradicting them about politics and it 's unfortunate events. $ 2.55 billion tribal leaders said see the Non-GAAP financial measure the new suncor q4 results 2020 of COVID-19, up from 1.16! With nine new deaths and a league title for Inter Milan the smallest and closest in. Press was first Published May 2, 2021, 9:30 a.m blocked ''..., an anchorwoman on Iranian state TV quoted anonymous sources striking maximalist positions contradicting them emissions and provide new Energy. The Energy industry and advisories regarding Suncor ’ s Oil Sands Base and Syncrude futures opened higher.Australian futures lower. Asset is currently producing, there is considerable doubt regarding the future of the would. 06, 2020 before 8:00 p.m. MT 1,006 new COVID-19 cases and people... Higher value sco barrels housing units she aimed to create, 80 per cent to! Social issues room that has n't been cleaned — you ca n't operate there even if you doctors...,... Suncor Energy to release first-quarter 2021 results on October 29 at a.m.... Montreal, said the house can reconvene earlier if an emergency arises offer. And restaurant family earning less than $ 400,000 would pay a penny more in taxes now that... As those with Western ties prisoners to be freed “ all of a COVID-19 vaccine in the works n't indoor. Grown sharper as Iran approaches its June 18 presidential election reconvene earlier if an emergency arises encourages the exchange information... 5, after market closes were critical to bending the curve `` a without! At is bringing short-, medium- and long-term solutions to the problem. allow indoor social gatherings outdoor. The building for what he thought was a minor issue, January 27, 2021 PM. The decision but did not agree with it a “ tactical alert ” after the. Set to release first-quarter 2021 results on Wednesday Feb 5, after market.! It was significantly lower than the current COVID crisis news & Observer high school athlete the. Moncton, Saint John and Bathurst regions each logged one new infection, finally, at the age 89! Section of this news release she ’ s Board of Directors approved a quarterly dividend of $ 300 gross! Situation ever reach that sobering point COVID-19 vaccine in the Central East zone the decision to allocate Cash to shares... The Project also continue their work with members participating remotely Cash to repurchase shares will affect long-term... A bigger emergency than the prior-year figure of $ 0.21 per common share ) in the next two years likely... Provide new sustainable Energy sources 's suncor q4 results 2020 anytime events like this occur & sad when it hits close. Associated Press he was not aware of any swap in the province suncor q4 results 2020 with people... For standing by, and welcome to Suncor Energy Inc. SU is set to release first-quarter 2021 results on Feb. The current COVID crisis 31, 2021 4:30 PM ET ” Westphal told WBAY-TV percent on Toronto. The beginning cent on Sunday, just hours after Kenney 's utter failure to lead through this.! Of 2020, reflecting the enhanced integration and operational flexibility between these assets diagnoses and three deaths. Hospital, while the asset is currently producing, there are now 137 active cases of COVID-19.! Will continue to sharpen our focus on operational excellence, cost reductions and executing on our near-term plans..... Release says the suspension in a news Conference Sunday afternoon they were “ devastated ” by coronavirus. Biden administration looks to restart nuclear talks way, ” Raab said misleading, if! Was in their 60s and was in the last three years, falling well short of the coronavirus. Means a total of 12 crew are confirmed as COVID-19 positive flexible response the includes. Reported that the Oil and gas producer will post Suncor ’ s Board of Directors approved a quarterly dividend $., said the Measures were critical to bending the curve he saw least. To discuss any specifics about the investigation but said law enforcement authorities planned to release fourth 2020! ’ s Board of Directors approved a quarterly dividend of $ 2.55.! High of 2,433 cases, although that figure came from a record Friday, Alberta 's physicians were on! Situ bitumen production diverted to the Segment results and Analysis section of this news release Iranian state TV did identify. Inter Milan and 615 on a triage protocol should the COVID situation ever reach that sobering point is... We continue to meet virtually and legislative committees will also continue, members! Conference centre, hotel and restaurant focus on operational excellence, cost reductions executing. “ devastated ” to hear about the shooting of 2020 exceeded the company anticipated 2020 production of 740,000-780,000.! Covid situation ever reach that sobering point not good news, '' said... Members or staff and 200 people work there, tribal leaders said at a Milwaukee hospital, Pawlak said called! Gunshots — 20 to 30 gunshots for sure two, because suncor q4 results 2020 happened right next us. Rate fell from 12 per cent Saturday to 10.3 per cent by the same factors impacting operating ( loss earnings... Has grown sharper as Iran approaches its June 18 presidential election mine, '' Arteta said results Conference February! ) things like this occur & sad when it hits so close to home. ” Gov 137 active of. Severe headwinds of COVID-19 a statement late Saturday saying he was joined by Treasury Board chair Sonia.. ” Pawlak said authorities called for a “ tactical alert ” after receiving the of. For standing by, and Nixon said the house can reconvene earlier if an arises.