Suncor Energy reports $1.5 billion Q3 profit

CALGARY- Suncor Energy is reporting third-quarter operating income of 1.5-billion dollars, an 80-per-cent increase over the same period a year earlier.

The earnings amount to 96 cents per share, in line with analysts’ expectations.

Suncor attributes the increase to higher crude oil prices and refinery margins, along with new production from its Fort Hills oilsands in Alberta and the Hebron project off the East Coast.

The company says record quarterly production from its legacy oilsands facilities helped take total upstream production to 743-thousand-800 barrels of oil equivalent per day in the three months ended September 30th.