Suncor Energy Sees Production Increases as Part of 2026 Plan
By Adriano Marchese
Suncor Energy has laid out its production growth targets as part of its 2026 plans, which also include an increase in share buybacks.
The Canadian energy company on Thursday said it expects production to reach 840,000 to 870,000 barrels of oil a day in 2026, representing growth of more than 100,000 barrels a day over its 2023 production and exceeding targets outlined at the 2024 Investor Day.
From the oil sands, the company expects to produce between 785,000 and 810,000 barrels a day.
Refining throughput is pegged at an average of 460,000 to 475,000 a day.
Total capital expenditures are expected to be 5.7 billion Canadian dollars ($4.13 billion) at the midpoint, which Suncor said is within the target set at the 2024 Investor Day.
The company has also increased its stock buyback for the year by 10%.
Chief Executive Officer Rich Kruger said, "To underscore our commitment, this month we increased buybacks by 10% to $275 million per month, pointing toward a projected $3.3 billion of repurchases in 2026."
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
December 11, 2025 07:27 ET (12:27 GMT)
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