Latest news with #RichKruger
Edmonton Journal
3 days ago
- Business
- Edmonton Journal
These trucks weigh almost as much as a fully-loaded 747 jet — and no one's driving them
Article content Suncor Energy Inc. is escalating the rollout of its massive 400-tonne capacity driverless trucks, a move the company says will cut costs and improve safety, but it's also expected to eliminate jobs. Article content The company said Wednesday it plans to expand its autonomous fleet to 150 or more by the end of the year, up from just 20 trucks that were in operation in the spring of 2024. Article content Article content 'All the expected benefits, safety, direct cost, productivity . . . we are on track to see or achieve all of those, or more than we would have hoped for,' Rich Kruger, Suncor's chief executive, said Wednesday during a conference call on the company's earnings. Article content Article content Despite 'ongoing commodity price volatility' this spring, Suncor managed to collect nearly $1.7 billion in profits, up by more than $100 million from the same time last year. The company has also set records for production in each quarter of the past year, and returned $1.45 billion to its shareholders in the latest stretch. Article content When the Calgary-based company began rolling out its fleet of driverless trucks 2018, it said the move would eliminate 400 jobs overall, though Suncor also vowed to minimize the impact and retrain workers. Article content Suncor said its driverless fleet is the largest of its kind in Canada, deploying the hulking vehicles to some of its oilsands mines. Article content Article content The company has seen some efficiency gains and improvement in productivity as a result, according to Peter Zebedee, an executive vice-president. Article content 'We really see this as a strategic move for us. It helps us to improve safety,' said Zebedee. Article content Like other oil producers, Suncor is dealing with an uncertain economic backdrop. Oil prices ranged widely in a short window, averaging US$63.70 per barrel for the second quarter, a near US$8 dip from earlier in the year.
Calgary Herald
4 days ago
- Business
- Calgary Herald
These trucks weigh almost as much as a fully-loaded 747 jet — and no one's driving them
Article content Suncor Energy Inc. is escalating the rollout of its massive 400-tonne capacity driverless trucks, a move the company says will cut costs and improve safety, but it's also expected to eliminate jobs. Article content The company said Wednesday it plans to expand its autonomous fleet to 150 or more by the end of the year, up from just 20 trucks that were in operation in the spring of 2024. Article content Article content 'All the expected benefits, safety, direct cost, productivity . . . we are on track to see or achieve all of those, or more than we would have hoped for,' Rich Kruger, Suncor's chief executive, said Wednesday during a conference call on the company's earnings. Article content Article content Despite 'ongoing commodity price volatility' this spring, Suncor managed to collect nearly $1.7 billion in profits, up by more than $100 million from the same time last year. The company has also set records for production in each quarter of the past year, and returned $1.45 billion to its shareholders in the latest stretch. Article content When the Calgary-based company began rolling out its fleet of driverless trucks 2018, it said the move would eliminate 400 jobs overall, though Suncor also vowed to minimize the impact and retrain workers. Article content Suncor said its driverless fleet is the largest of its kind in Canada, deploying the hulking vehicles to some of its oilsands mines. Article content Article content The company has seen some efficiency gains and improvement in productivity as a result, according to Peter Zebedee, an executive vice-president. Article content 'We really see this as a strategic move for us. It helps us to improve safety,' said Zebedee. Article content Like other oil producers, Suncor is dealing with an uncertain economic backdrop. Oil prices ranged widely in a short window, averaging US$63.70 per barrel for the second quarter, a near US$8 dip from earlier in the year.
Globe and Mail
22-07-2025
- Business
- Globe and Mail
Suncor Energy to release second quarter 2025 financial results
Calgary, Alberta--(Newsfile Corp. - July 22, 2025) - Suncor Energy (TSX: SU) (NYSE: SU) will release its second quarter financial results on August 5, 2025 before 5:00 p.m. MT (7:00 p.m. ET). A webcast to review the second quarter will be held on August 6, 2025 at 7:30 a.m. MT (9:30 a.m. ET). Representing management will be Rich Kruger, President and Chief Executive Officer and Kris Smith, Chief Financial Officer. A question and answer period with analysts will follow brief remarks from management. Troy Little, Senior Vice President, External Affairs will host the call. To listen to the webcast please follow the instructions provided at The event will be archived for 90 days. Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development, production and upgrading; offshore oil production; petroleum refining in Canada and the U.S.; and the company's Petro-Canada TM retail and wholesale distribution networks (including Canada's Electric Highway TM, a coast-to-coast network of fast-charging EV stations). Suncor is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. Suncor also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges. For more information about Suncor, visit our website at
Yahoo
22-07-2025
- Business
- Yahoo
Suncor Energy to release second quarter 2025 financial results
Calgary, Alberta--(Newsfile Corp. - July 22, 2025) - Suncor Energy (TSX: SU) (NYSE: SU) will release its second quarter financial results on August 5, 2025 before 5:00 p.m. MT (7:00 p.m. ET). A webcast to review the second quarter will be held on August 6, 2025 at 7:30 a.m. MT (9:30 a.m. ET). Representing management will be Rich Kruger, President and Chief Executive Officer and Kris Smith, Chief Financial Officer. A question and answer period with analysts will follow brief remarks from management. Troy Little, Senior Vice President, External Affairs will host the call. To listen to the webcast please follow the instructions provided at The event will be archived for 90 days. Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development, production and upgrading; offshore oil production; petroleum refining in Canada and the U.S.; and the company's Petro-CanadaTM retail and wholesale distribution networks (including Canada's Electric HighwayTM, a coast-to-coast network of fast-charging EV stations). Suncor is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. Suncor also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges. For more information about Suncor, visit our website at Media inquiries: (833) 296-4570 media@ Investor inquiries: invest@ To view the source version of this press release, please visit
Yahoo
10-05-2025
- Business
- Yahoo
Suncor reports highest-ever Q1 production and refinery throughput
CALGARY — Oilsands giant Suncor Energy Inc. says said it had its strongest-ever first-quarter performance in its production, refining and refined product sales segments. It says production was 853,000 barrels of oil per day, refining throughput was 483,000 per day and refined product sales were 605,000 barrels per day. Net earnings for the first three months of 2025 were $1.69 billion, up from $1.61 billion during the same 2024 period. That amounted to $1.36 per share versus $1.25 per share. Gross revenues were $13.33 billion, compared to $13.31 billion a year earlier. Adjusted operating earnings, a measure Suncor says provides a better comparison between quarters, were $1.63 billion, down from $1.82 billion, which it says was due to lower crude oil sales. "Our strong first quarter financial and operating performance maintained the momentum established in 2024, as we remain laser-focused on continuing to deliver safe, reliable, and cost-effective operations," CEO Rich Kruger said in a news release Tuesday. "Our focus on the fundamentals, integrated business model, and continually improving cost structure enable us to deliver free funds flow and shareholder value despite the current volatile business environment." This report by The Canadian Press was first published May 6, 2025. Companies in this story: (TSX: SU) Lauren Krugel, The Canadian Press
