Suncor Energy Inc , Canada's second-largest oil and gas producer, reported a second-quarter profit on Wednesday as a result of stronger crude oil prices and increased production from its upstream assets and refining operations.
The company reported a net profit of C$435 million ($349.57 million), or 26 Canadian cents per share, versus a loss of C$735 million, or 46 Canadian cents per share, during the same period a year earlier when wildfires in northern Alberta disrupted production. Suncor's operating profit, which excludes one-time items, was C$199 million, or 12 Canadian cents per share, in the second quarter, from a loss of C$565 million, or 36 Canadian cents per share, in the year-ago period. Suncor produced a total of 539,100 barrels of oil equivalent per day in the second quarter, up from 330,700 boepd in the same period of 2016. (Reporting by Nia Williams; Editing by Leslie Adler)