Suncor Energy on Thursday forecast higher oil and gas production in 2026 as the Canadian energy producer boosts output from its oil sands assets.
The Calgary, Alberta-based company expects upstream production between 840,000 and 870,000 barrels per day next year, compared with its 2025 production estimates of 810,000 to 840,000 barrels per day.
Suncor also expects capital expenditure to range between C$5.6 billion ($4.06 billion) and C$5.8 billion in 2026, down from its forecast of C$6.1 billion to C$6.3 billion for 2025.
CEO Rich Kruger said the company in December increased share buybacks by 10% to C$275 million per month, pointing toward a projected C$3.3 billion of repurchases in 2026.
(Reporting by Sumit Saha in Bengaluru; Editing by Sriraj Kalluvila and Sahal Muhammed)