Canadian oil and gas producer Suncor said today its third quarter operating profits nearly tripled aided by high oil prices, better refining margins and increased production at its oil sands business.
The firm, which is a partner in the Buzzard and Golden Eagle fields in the UK North Sea and has exploration licences, said operating profits hit £1.1billion during the three months to September 30.
However, overall production was down, from a daily average of 546,000 barrels of oil equivalent in the third quarter, against 635,500 in the same period in 2010.
It said the drop was due to assets being sold off during 2010 and 2011, operational issues at Buzzard and civil unrest in Libya.
Recommended for you
