🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Stocks

Suncor reports Q4 loss of C$2 bln on writedowns, unrealized FX loss

Published 2016-02-03, 08:19 p/m
© Reuters.  Suncor reports Q4 loss of C$2 bln on writedowns, unrealized FX loss
SU
-

CALGARY, Alberta, Feb 3 (Reuters) - Suncor Energy Inc
SU.TO , Canada's largest oil and gas company, reported a
fourth-quarter loss of C$2 billion ($1.46 billion) on Wednesday
due to asset writedowns as a result of weak global crude prices
and unrealized foreign exchange losses.
In the year-prior quarter net earnings were C$84 million, or
6 Canadian cents per share.
Suncor's operating loss, which excludes one-time items, was
C$26 million, or 2 Canadian cents per share, in the fourth
quarter, from operating earnings of C$386 million, or 27
Canadian cents per share, in the year-ago period.
Suncor produced a total of 582,900 barrels of oil equivalent
per day, from 557,600 in the fourth quarter of 2014, primarily
due to reliability in oil sands operations.

($1 = 1.3737 Canadian dollars)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.