Suncor had good news for investors last night as it revealed its fourth quarter earnings.
Profits went up by just under 11% compared to the fourth quarter of last year.
The 1.43 billion dollars in profits amounted to about 91 cents per share, slightly higher than analysts expected.
Oilsands production didn’t change much, with a 600 barrel per day increase to 326-thousand five hundred, excluding the company’s stake in Syncrude.
But higher oil prices still drove profits up.
The company also says three of its five oil fields in Libya have started production again; though its Syrian operations are still suspended.
Published February 1, 2012
