Canada: Suncor Reords Q4 Profit Post PetroCanada Acquisition
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Monday, 22 February 2010 |
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Suncor Energy reported a fourth-quarter profit as production more than doubled on the purchase of Petro-Canada.
Net income was C$457 million compared with a net loss of C$215
million in the fourth quarter of 2008, the Calgary-based company said
in a statement. Petro-Canada was acquired by Suncor in August for
C$19.2 billion, Canada’s largest energy takeover. Revenue rose 9.8
percent to C$7.64 billion on higher output and refined-product sales.
Production in the fourth quarter more than doubled to 638,200 barrels
of oil equivalent a day. That included 325,600 barrels from the
Petro-Canada deal.
PetrolWorld 200210
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