Suncor Energy has become the latest oil major to report a substantial decline in profits from last year’s record performance. The Canadian heavyweight booked earnings of C$1.88 billion for April to June this year, or about $1.4 billion, which was down from C$4 billion, or $2.97 billion, for the second quarter of 2022. The company also reported it had returned more than $1 billion to shareholders during the reporting period, in the form of share buybacks and dividends. Suncor also booked higher production for the quarter, with total oil sands…
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