Refineries and service stations stood out as Suncor Energy Inc.’s 2021 profits champion, even with strong gains from oilsands production and higher commodity prices, the Calgary-based producer said. 

suncor coker tower

Northern Alberta mining and extraction operations only took over the lead in Suncor ledgers as oil prices climbed in late 2021, according to the fourth quarter results. Total oilsands production dipped to 665,900 b/d during 4Q2021 from 671,500 b/d a year earlier as operations retooled. For full-year 2021, oilsands output rose by 644,200 b/d on average from 593,400 b/d in 2020.

Refineries ran at more than 90% of capacity to process an average of 447,000 b/d in 4Q2021, up from 438,000 b/d a year earlier. The 2021 annual average rose to 415,500 b/d from 407,000 in 2020.

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