Efforts to streamline operations have helped Suncor Energy Inc. hit its debt target, triggering a commitment to pay out 100 per cent of excess funds to shareholders.
The oil and gas giant has been working to make efficiency improvements across its sprawling network as it shifts focus to incremental gains over pricey expansion projects.
The efforts yielded upstream production of 829,000 barrels per day to mark its best third quarter ever, its highest ever refining throughput of 488,000 barrels per day and highest ever refined sales at 612,000 barrels per day.
“This is now back to back to back quarterly records,” said chief executive Rich Kruger on an earnings call Wednesday….