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Suncor reports 6.81 per cent increase in daily oil equivalent production in 2018

A man is reflected in a sign as he leaves the building where Suncor Energy headquarters is located in Calgary on January 17, 2002. THE CANADIAN PRESS/Adrian Wyld

Suncor’s 2018 annual report shows the company produced 723,000 barrels of oil equivalent per day (boe/d) last year. That’s up 6.81 per cent from 2017.

Of that, 103,400 boe/d came from exploration and production, while the remaining 628,600 boe/d came from oil sands.

Fort Hills produced an average 66,100 barrels per day (bbl/d), net to Suncor and reached full operating rates by the fourth quarter.

Firebag and McKay River achieved record production, with in-situ assets achieving 99 per cent utilization and producing 240,000 bbl/d.

The report also explains how the company was able to be flexible and resilient as differentials widened through most of the year.

It says that 75 per cent of what’s produced in Alberta is upgraded or refined locally and that some bitumen and synthetic oil is converted into transportation fuels.

When it comes to climate change, the report says Suncor will continue with its goal to reduce greenhouse gas emissions intensity by 30 per cent by 2030.