Suncor reports C$2bn net loss as it weathers low crude oil price environment

February 4, 2016

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Canadian oil producer Suncor Energy has reported a net loss for the fourth quarter ended December 31 of C$2-billion, or C$1.38 per share, as the Canadian oil industry buckled under American benchmark oil prices below $50/bl for the period.
That was compared with net earnings of C$84-million (C$0.06 per common share) in the prior-year quarter, when oil was trading around the $100/bl-mark.

Category: General