Suncor Energy Inc, Canada’s second-largest oil and gas producer, on Wednesday reported a near 43 per cent fall in quarterly profit due to a weaker business environment.
Net profit fell to $1.04-billion (US$790.39 million), or 67 cents per share, in the third quarter ended Sept. 30, from $1.81-billion, or $1.12 per share, a year ago.
Suncor’s operating profit, which excludes one-time items, fell to $1.11-billion, or 72 cents per share, from $1.56-billion, or 96 cents per share, in the year-ago period.
The company produced a total of 762,300 barrels of oil equivalent per day (boepd), from 743,800 boepd in the year-ago quarter.
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