Suncor Beats Expectations With Q2 Results ...Middle East

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Suncor Beats Expectations With Q2 Results
source : OILPRICE ( Middle East ) () 52
Canadian oil heavyweight Suncor Energy reported higher-than-expected earnings for the second quarter, booking a net result of $820 million and returning over $1 billion to shareholders in the period. The company benefited from an increase in crude oil production during the second quarter that helped it compensate for lower overall energy commodity prices, accumulating some C$2.7 billion ($1.96 billion) in funds from operations, and C$1 billion ($730 million) in free cash flow. Operating profits, however, halved from the first to the second…

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