Suncor Vitality Inc. says it earned $2.95 billion within the first quarter, up from $821 million in the identical interval of 2021, because the warfare in Ukraine and power provide fears drove oil costs increased.
The Calgary-based oil producer and refiner reported after markets closed on Monday that its web earnings amounted to $2.06 per frequent share, in comparison with 54 cents per frequent share within the first quarter of final 12 months.
Revenues have been $13.5 billion, up from $8.6 billion within the prior quarter.
Suncor reported whole upstream manufacturing of 766,100 barrels of oil equal per day (boe/d) within the first quarter of 2022, in comparison with 785,900 boe/d within the prior 12 months quarter.
Refinery crude throughput elevated to 436,500 barrels per day and refinery utilization was 94 per cent within the first quarter of 2022, in comparison with 428,400 barrels per day and 92 per cent within the prior 12 months quarter.
Additionally on Monday, Suncor declared a quarterly dividend of 47 cents per frequent share payable June 24 to shareholders of report as of June 3. The corporate says the dividend is the very best within the firm's historical past and 12 per cent increased than the earlier quarter's dividend.
This report by The Canadian Press was first printed Could 9, 2022
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