Sherwood Park
Refining Helps Suncor and Cenovus Post Record Results
Suncor set a cash-flow record while Cenovus topped one million barrels of oil equivalent a day
Arnold Brownridge

Arnold Brownridge

Nov 9, 2026

2 Comments
Suncor plant, Alberta (2024). Photo: Joli Rumi / Wikimedia Commons, CC BY-SA 4.0.

Strong refining results helped two of Canada’s biggest oil producers reach different milestones in the third quarter: Suncor generated record cash flow, and Cenovus topped one million barrels of oil equivalent a day for the first time.

 

Suncor reported $6.7 billion in adjusted funds from operations for the quarter ended Sept. 30, up 75 per cent from a year earlier.

 

Its profit more than doubled to $3.8 billion, and refined-fuel sales averaged a third-quarter record of about 677,000 barrels a day.

 

During a 37-day maintenance project at Suncor’s Edmonton refinery, an employee’s idea kept roughly 46,000 barrels a day moving through the plant and added more than $50 million to free cash flow, CEO Rich Kruger told analysts.

 

Suncor raised its quarterly dividend by 10 per cent and increased monthly share buybacks from $500 million to $750 million.

 

Cenovus’s earnings rose from $2.9 billion in the previous quarter to $3.4 billion as three oilsands projects set production records and refining profits nearly doubled.

 

Cenovus returned $1.9 billion to shareholders, mostly through share buybacks.

2 Comments

Join the conversation

  • P
    prairie_pat· Nov 9, 11:58 PM

    Curious about that employee idea at the Edmonton refinery. 50 million dollars from one suggestion during a maintenance shutdown is pretty wild.

  • DM
    Dale M.· Nov 9, 11:52 PM

    Record cash flow and they raise the dividend too. Good time to be holding Suncor shares.

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