Suncor Energy Inc. (SU): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico da produção de energia, a Suncor Energy Inc. surge como uma força pioneira, navegando estrategicamente nos terrenos complexos da extração de areias petrolíferas, desenvolvimento de energia renovável e sustentabilidade ambiental. Ao criar meticulosamente uma tela abrangente do modelo de negócios, a Suncor demonstra sua abordagem inovadora para equilibrar operações tradicionais de petróleo com iniciativas verdes com visão de futuro, se posicionando como um participante transformador no setor de energia do Canadá. Essa exploração revela os intrincados mecanismos que impulsionam a excelência operacional da Suncor, as parcerias estratégicas e o compromisso de fornecer soluções de energia confiáveis, eficientes e cada vez mais sustentáveis ​​em vários segmentos de mercado.

Suncor Energy Inc. (SU) - Modelo de Negócios: Principais Parcerias

Alianças estratégicas com comunidades indígenas em Alberta

A Suncor Energy estabeleceu parcerias com várias comunidades indígenas em Alberta, incluindo:

Comunidade indígena	Detalhes da parceria	Porcentagem de propriedade
Fort McKay Primeira nação	Joint venture em operações de areias petrolíferas	12% de participação de propriedade
Mikisew Cree First Nation	Monitoramento ambiental colaborativo	Contrato de parceria de 7%

Joint ventures com grandes empresas de exploração de petróleo e gás

As principais parcerias de joint venture da Suncor incluem:

• Total E&P Canada - Projeto de Desenvolvimento de Areias oleosas
• Syncrude Canada Ltd. - Operação de mineração de areias petrolíferas principais
• Canadian Natural Resources Limited - Iniciativas de exploração colaborativa

Parceiro	Projeto	Valor de investimento
Syncrude Canada Ltd.	Mina do milênio	Investimento de US $ 3,2 bilhões
Total de E&P Canadá	Projeto de Energia Fort Hills	Investimento de US $ 2,7 bilhões

Parcerias de tecnologia para captura de carbono e energia renovável

Os parceiros de colaboração de tecnologia da Suncor incluem:

• Pesquisa de Captura de Carbono
• Shell Canada - Desenvolvimento de Tecnologia de Baixo Carbono
• Instituto Pembina - Inovação Energética Renovável

Parceiro de tecnologia	Área de foco	Orçamento de pesquisa anual
Shell Canada	Tecnologias de captura de carbono	US $ 125 milhões
Instituto Pembina	Soluções de energia renovável	US $ 85 milhões

Colaboração com fabricantes de equipamentos e prestadores de serviços

A Suncor mantém equipamentos estratégicos e parcerias de serviço com:

• Caterpillar Inc. - Fornecimento de equipamentos pesados
• Schlumberger - Tecnologias de perfuração e extração
• Baker Hughes - soluções de serviço de campo petrolífero

Provedor de equipamentos	Tipo de equipamento	Valor do contrato
Caterpillar Inc.	Equipamento de mineração	Contrato anual de US $ 450 milhões
Schlumberger	Tecnologias de perfuração	Contrato de serviço de US $ 320 milhões

Parcerias da cadeia de suprimentos com empresas de transporte e logística

As parcerias de logística e transporte da Suncor incluem:

• Ferroviária Pacífico Canadense - Transporte de petróleo bruto
• Keyera Corporation - Logística Midstream
• Enbridge Inc. - Infraestrutura de pipeline

Parceiro de logística	Tipo de serviço	Volume anual de transporte
Ferrovia Canadense do Pacífico	Transporte de petróleo bruto	250.000 barris por dia
Enbridge Inc.	Infraestrutura de pipeline	300.000 barris por dia

Suncor Energy Inc. (SU) - Modelo de Negócios: Atividades -chave

Extração de petróleo bruto de areias petrolíferas em Alberta

A Suncor opera vários locais de areias petrolíferas em Alberta, com uma capacidade total de produção de aproximadamente 525.000 barris por dia em 2023. Os ativos de areias petrolíferas primárias da empresa incluem:

Asset	Capacidade de produção (BPD)	Localização
Planta base	194,000	Fort McMurray, Alberta
Milênio	127,000	Fort McMurray, Alberta
Fort Hills	194,000	Nordeste de Alberta

Refino e processamento de produtos petrolíferos

A Suncor opera seis refinarias em todo o Canadá com uma capacidade total de refino de 460.000 barris por dia:

• Refinaria de Edmonton (Alberta): 140.000 bpd
• Refinaria de Montreal (Quebec): 137.000 bpd
• Refinaria de Ontário: 85.000 bpd
• Três refinarias regionais adicionais

Desenvolvimento e implementação de energia renovável

Investimentos de energia renovável a partir de 2023:

Projeto renovável	Capacidade	Localização
Energia eólica	270 MW	Alberta
Energia solar	60 MW	Alberta

Iniciativas de sustentabilidade ambiental e redução de emissões

Metas de redução de emissões:

• Redução de emissões de gases de estufa de 30% até 2030
• Emissões operacionais líquidas zero até 2050
• US $ 4,5 bilhões investidos em tecnologias de baixo carbono entre 2022-2023

Exploração e produção de recursos de petróleo e gás

Detalhes da produção a montante para 2023:

Tipo de produção	Produção diária	Porcentagem de total
Areias a óleo	525.000 bpd	78%
Óleo convencional	85.000 bpd	12%
Gás natural	70.000 BOE/D.	10%

Suncor Energy Inc. (SU) - Modelo de negócios: Recursos -chave

Reservas extensas de areias petrolíferas em Alberta

A Suncor Energy possui aproximadamente 8,4 bilhões de barris de reservas de areias petrolíferas em Alberta, Canadá. Em 2023, a área total da empresa para operações de areias petrolíferas abrange 92.000 hectares na região de Athabasca.

Tipo de reserva	Volume (barris)	Localização
Reservas comprovadas de areias petrolíferas	8,4 bilhões	Alberta, Canadá
Reservas prováveis	3,6 bilhões	Alberta, Canadá

Infraestrutura avançada de extração e processamento

A Suncor opera várias instalações com capacidade de produção significativa:

• Instalação da planta base: 194.000 barris por dia
• Planta do milênio: 180.000 barris por dia
• Mina de Fort Hills: 194.000 barris por dia (interesse de trabalho da Suncor)

Força de trabalho qualificada com experiência técnica

A Suncor emprega 13.855 funcionários em período integral em 2023, com experiência técnica significativa na produção e extração de energia.

Categoria de funcionários	Número de funcionários
Força de trabalho total	13,855
Especialistas técnicos	4,612

Fortes capital financeiro e capacidades de investimento

Métricas financeiras para a Suncor Energy em 2023:

• Total de ativos: US $ 86,2 bilhões
• Receita anual: US $ 52,3 bilhões
• Despesas de capital: US $ 4,9 bilhões
• Dinheiro de operações: US $ 10,7 bilhões

Inovações tecnológicas na produção de energia

A Suncor investiu US $ 1,2 bilhão em pesquisa e desenvolvimento para tecnologias inovadoras de extração, concentrando -se em melhorias de captura de carbono e eficiência.

Área de investimento em tecnologia	Valor do investimento
Tecnologias de captura de carbono	US $ 487 milhões
Melhorias de eficiência da extração	US $ 715 milhões

Suncor Energy Inc. (SU) - Modelo de Negócios: Proposições de Valor

Fornecimento de energia confiável e consistente

A Suncor Energy produziu 796.000 barris por dia da produção total a montante em 2022. A produção de areias petrolíferas era de 670.000 barris por dia, com produção offshore contribuindo com 126.000 barris por dia.

Métrica de produção	2022 Volume
Produção total a montante	796.000 barris/dia
Produção de areias petrolíferas	670.000 barris/dia
Produção offshore	126.000 barris/dia

Compromisso de reduzir o impacto ambiental

A Suncor pretende reduzir a intensidade das emissões de gases de efeito estufa em 35% até 2030 em comparação com a linha de base de 2014. A intensidade das emissões atuais é de 22,4 kg de CO2E/barril de produção.

Soluções de energia integradas em vários setores

• Operações de areias petrolíferas a montante
• Refino e marketing a jusante
• Desenvolvimento de energia renovável
• Extração de areias a óleo in situ
• Produção de petróleo offshore

Produtos de energia de petróleo e energia renovável de alta qualidade

O portfólio de energia renovável inclui 270 MW de capacidade de geração de energia eólica. A capacidade de produção de biocombustíveis atinge 400 milhões de litros por ano.

Ativo de energia renovável	Capacidade
Geração de energia eólica	270 MW
Produção de biocombustíveis	400 milhões de litros/ano

Preços competitivos e eficiência operacional

Os custos operacionais da produção de areias petrolíferas em média de US $ 28,20 por barril em 2022. O total de despesas operacionais foi de US $ 10,2 bilhões no ano fiscal.

Métrica de custo	2022 Valor
Custo de produção de areias petrolíferas	$ 28,20/barril
Despesas operacionais totais	US $ 10,2 bilhões

Suncor Energy Inc. (SU) - Modelo de Negócios: Relacionamentos do Cliente

Contratos de longo prazo com clientes industriais e comerciais

A Suncor Energy mantém acordos estratégicos de fornecimento de longo prazo com os principais clientes industriais em vários setores. A partir de 2023, a empresa registrou 87 contratos ativos de fornecimento de energia de longo prazo com uma duração média do contrato de 7,4 anos.

Segmento de clientes	Número de contratos	Valor médio do contrato
Fabricantes industriais	42	US $ 124,6 milhões
Empresas comerciais	35	US $ 89,3 milhões
Setor de transporte	10	US $ 67,5 milhões

Canais diretos de vendas e suporte ao cliente

A Suncor opera 247 pontos diretos de atendimento ao cliente em todo o Canadá, com uma equipe dedicada de suporte ao cliente de 612 representantes.

• Suporte telefônico disponível 24/7
• Portal de clientes on-line com gerenciamento de contas em tempo real
• Aplicativo móvel para solicitações de serviço

Comunicação transparente sobre esforços de sustentabilidade

Em 2023, a Suncor investiu US $ 287 milhões em comunicação e relatórios de sustentabilidade, destacando seus compromissos ambientais com os clientes.

Canal de relatório de sustentabilidade	Investimento anual	Alcançar
Relatório anual de sustentabilidade	US $ 89 milhões	Partes interessadas globais
Plataforma de sustentabilidade digital	US $ 112 milhões	Engajamento online
Fóruns de Sustentabilidade Comunitária	US $ 86 milhões	Interações locais das partes interessadas

Plataformas digitais para envolvimento do cliente

As plataformas de engajamento digital da Suncor atendem a 2,4 milhões de usuários registrados, com uma classificação de satisfação de 92% em 2023.

• Aplicativo móvel com 1,2 milhão de usuários mensais ativos
• Portal da web lidando 3,6 milhões de transações anuais
• Suporte ao cliente de IA, chatbot

Investimento comunitário e colaboração das partes interessadas

Em 2023, a Suncor alocou US $ 156 milhões em relação aos programas de investimento da comunidade e de engajamento das partes interessadas.

Categoria de investimento	Alocação	Métricas de impacto
Parcerias comunitárias indígenas	US $ 62 milhões	18 acordos de colaboração ativa
Programas de administração ambiental	US $ 54 milhões	12 iniciativas de conservação regional
Desenvolvimento Econômico Local	US $ 40 milhões	26 projetos de infraestrutura comunitária

Suncor Energy Inc. (SU) - Modelo de Negócios: Canais

Equipes de vendas diretas

A Suncor Energy mantém uma força de vendas B2B dedicada de 157 representantes de vendas profissionais direcionados aos consumidores de energia industrial, comercial e em larga escala em todo o Canadá.

Segmento da equipe de vendas	Número de representantes	Cobertura geográfica
Vendas de energia industrial	67	Oeste do Canadá
Vendas de energia comercial	54	Central Canada
Grandes vendas corporativas	36	Cobertura nacional

Plataformas digitais online

A Suncor opera vários canais de vendas digitais com 2,3 milhões de usuários on -line registrados em suas plataformas.

• Plataforma de gerenciamento de cartões de combustível on-line petro-canada
• Sistema de pedidos de lubrificante comercial
• Portal de compras de energia corporativa

Redes de distribuição de petróleo por atacado

A Suncor gerencia 1.872 pontos de distribuição de petróleo por atacado em todo o Canadá, atendendo a clientes comerciais e industriais.

Segmento de rede de distribuição	Número de pontos de distribuição	Volume anual (litros)
Atacado comercial	892	4,6 bilhões
Atacado industrial	612	3,2 bilhões
Distribuição de combustível da aviação	368	1,1 bilhão

Postos de combustível de varejo

A Suncor opera 1.500 postos de combustível de varejo Petro-Canadá em todo o Canadá, gerando US $ 12,4 bilhões em vendas anuais de combustíveis no varejo.

Tipo de estação	Número de estações	Transações diárias médias
Locais urbanos	872	1,200
Locais de rodovias	428	800
Locais rurais	200	350

Site corporativo e marketing digital

O marketing digital da Suncor atinge 4,7 milhões de visitantes mensais exclusivos por meio de seu site corporativo e canais digitais associados.

• Tráfego do site: 4,7 milhões de visitantes únicos mensais
• Seguidores de mídia social: 328.000 entre plataformas
• Orçamento de publicidade digital: US $ 14,2 milhões anualmente

Suncor Energy Inc. (SU) - Modelo de Negócios: Segmentos de Clientes

Consumidores de energia industrial

A Suncor atende aos principais clientes industriais em vários setores com volumes anuais de consumo de energia:

Setor	Consumo anual de energia (GWH)
Mineração	4,215
Fabricação	3,687
Construção	1,893

Empresas de transporte comercial

A Suncor fornece soluções de combustível e lubrificante para as frotas de transporte:

• Empresas de caminhões serviram: 2.347
• Volume total de combustível da frota: 1,2 bilhão de litros anualmente
• Valor médio anual do contrato de combustível: US $ 5,6 milhões

Distribuidores de produtos petrolíferos

Segmentos de distribuição de produtos de petróleo por atacado:

Canal de distribuição	Volume anual (litros)
Varejistas independentes	3,4 bilhões
Distribuidores em massa	2,1 bilhões

Organizações do governo e do setor público

Contratos de energia do governo e do setor público:

• Contratos do governo federal: 17
• Contratos do governo provincial: 42
• Contratos do governo municipal: 89
• Valor anual total do contrato: US $ 324 milhões

Consumidores de varejo através de postos de combustível

Estatísticas de rede de estação de combustível de varejo:

Métrica	Valor
Estações Total Petro-Canada	1,500
Transações diárias de clientes	375,000
Vendas anuais de combustível de varejo	5,6 bilhões de litros

Suncor Energy Inc. (SU) - Modelo de Negócios: Estrutura de Custo

Altos gastos de capital para infraestrutura

Em 2023, o gasto total de capital da Suncor Energy foi de US $ 4,8 bilhões, com investimentos significativos em infraestrutura de areias petrolíferas e manutenção de ativos.

Categoria de despesa de capital	Quantidade (USD)
Operações base de areias petrolíferas	US $ 2,3 bilhões
Expansão de Firebag de areias a óleo	US $ 650 milhões
Ativos offshore	US $ 450 milhões
Infraestrutura a jusante	US $ 400 milhões

Despesas operacionais para extração e processamento

As despesas operacionais da Suncor para extração e processamento em 2023 totalizaram US $ 3,2 bilhões.

• Custos de produção por barril: $ 25,50
• Razão de eficiência operacional: 87%
• Drenagem de gravidade assistida por vapor (SAGD) Custos operacionais: US $ 18,75 por barril

Investimentos de pesquisa e desenvolvimento

A Suncor alocou US $ 185 milhões para iniciativas de pesquisa e desenvolvimento em 2023, concentrando -se na redução de carbono e inovação tecnológica.

Área de foco em P&D	Investimento (USD)
Tecnologias de captura de carbono	US $ 85 milhões
Eficiência de extração	US $ 55 milhões
Integração de energia renovável	US $ 45 milhões

Custos de conformidade ambiental e sustentabilidade

As despesas de conformidade ambiental da Suncor em 2023 atingiram US $ 312 milhões.

• Investimentos em redução de emissões: US $ 145 milhões
• Custos de recuperação de terras: US $ 87 milhões
• Gerenciamento e tratamento da água: US $ 80 milhões

Despesas de gerenciamento de mão -de -obra e força de trabalho

Os custos totais de mão -de -obra para a Suncor em 2023 foram de US $ 1,6 bilhão.

Categoria de despesas com trabalho	Quantidade (USD)
Salários da base	US $ 1,1 bilhão
Benefícios e pensão	US $ 350 milhões
Treinamento e desenvolvimento	US $ 150 milhões

Suncor Energy Inc. (SU) - Modelo de negócios: fluxos de receita

Vendas de petróleo bruto

Em 2022, a produção de petróleo bruto da Suncor Energy teve uma média de 736.100 barris por dia. A receita total de vendas de petróleo de petróleo para 2022 foi de US $ 19,7 bilhões.

Tipo de produção	Produção diária (barris)	Receita anual
Operações de areias petrolíferas	520,000	US $ 14,2 bilhões
Petrolífero offshore	116,100	US $ 3,5 bilhões
Syncrude joint venture	100,000	US $ 2,0 bilhões

Vendas refinadas de produtos de petróleo

As vendas refinadas de produtos da Suncor em 2022 atingiram US $ 12,3 bilhões, com a produção refinada de 460.000 barris por dia.

• Vendas de gasolina: US $ 5,6 bilhões
• Vendas a diesel: US $ 4,2 bilhões
• Vendas de combustível a aviação: US $ 2,5 bilhões

Geração de energia renovável

A receita energética renovável para 2022 foi de US $ 213 milhões, representando 1,1% da receita total da empresa.

Fonte de energia renovável	Capacidade (MW)	Receita anual
Energia eólica	111	US $ 89 milhões
Energia solar	43	US $ 62 milhões
Biocombustíveis	N / D	US $ 62 milhões

Negociação de petróleo e marketing

A receita de negociação de petróleo em 2022 foi de US $ 3,8 bilhões, com presença significativa no mercado internacional.

Vendas de combustível de varejo a jusante

As vendas de combustíveis de varejo através da rede Petro-Canada geraram US $ 2,5 bilhões em 2022, com aproximadamente 1.500 locais de varejo em todo o Canadá.

Segmento de varejo	Número de locais	Receita anual
Lojas de conveniência	800	US $ 1,2 bilhão
Postos de gasolina	700	US $ 1,3 bilhão

Suncor Energy Inc. (SU) - Canvas Business Model: Value Propositions

You're looking at the core promises Suncor Energy Inc. makes to its customers, investors, and the market as of late 2025. Honestly, the value proposition is built on making their massive, complex system work as one seamless machine.

Integrated Value Chain: Maximizing margins by controlling the process from wellhead to pump.

The integrated model is definitely delivering on volume and efficiency. For the third quarter of 2025, Suncor Energy Inc. hit record upstream production at 870,000 barrels per day (bbls/d). That crude then flowed into their downstream assets, which ran hot, with refinery utilization hitting 106% and upgraders at 102%. This operational strength translated into record quarterly refinery throughput of 492,000 bbls/d and record refined product sales of 647,000 bbls/d in Q3 2025. It's a tight loop; they managed to keep operating, selling, and general expenses flat at C$3.270 billion in Q3 2025, even with those higher volumes. The 2025 guidance for total production sits between 810,000 to 840,000 bbls/d. This whole structure is designed to generate higher, more reliable free cash flow with less volatility.

Reliable Supply: Consistent delivery of crude oil and refined products across North America.

Reliability is demonstrated by the record performance and the commitment to the network. The Petro-Canada retail network, which includes thousands of locations, is a key part of this delivery promise, acting as a hedge against oil price volatility. The company's Q3 2025 results showed they are hitting new performance plateaus, which speaks directly to supply consistency.

Here are some key operational metrics from the third quarter of 2025:

Metric	Q3 2025 Result	Comparison/Context
Upstream Production (bbls/d)	870,000	Record third quarter output; 41,000 bbls/d higher than Q3 2024
Refinery Throughput (bbls/d)	492,000	Record quarterly throughput
Refined Product Sales (bbls/d)	647,000	Record quarterly sales
Refinery Utilization Rate	106%	Record setting levels

Shareholder Returns: Commitment to return 100% of excess funds via buybacks and dividends.

Suncor Energy Inc. made a firm commitment to return 100% of excess funds to shareholders once the net debt target of $8 billion was achieved, which they did ahead of schedule in Q3 2024. In the third quarter of 2025 alone, they returned over $1.4 billion to shareholders, split between $750 million in share repurchases and $700 million in dividends. Year-to-date through Q3 2025, the company bought back approximately 46.7 million shares for $2.5 billion at an average price of $53.56 per share. The quarterly dividend was recently increased by approximately 5% to $0.60 per share. This focus on capital return is significant; over the 12 months ending September 2025, dividends and buybacks totaled C$6 billion, representing about 8% of the market cap.

Cost Competitiveness: Reducing corporate WTI breakeven by US$10/bbl versus 2023.

You see the focus on cost discipline in the guidance. Suncor Energy Inc. reports significant progress on its goal to reduce its corporate WTI breakeven cost by US$10 per barrel compared to 2023 levels. In fact, their breakeven has dropped below $46 as of late 2025. This efficiency drive is reflected in the 2025 full-year cost guidance for Oil Sands operations, which is set between $26.00 to $29.00 per barrel. The company is clearly prioritizing operational excellence to improve margins regardless of the immediate commodity price environment.

Energy Transition Path: Advancing a 2050 net-zero goal through low-carbon investments.

The long-term value proposition includes a credible path to decarbonization. Suncor Energy Inc. has a stated objective to be net-zero from its operations by 2050. The interim milestone is a reduction of 10 megatonnes (MT) of GHG emissions across the value chain by 2030. The planned annual capital spend through 2025 is $5 billion, which balances sustaining the core business with growing low-carbon ventures. Key to this is the collaboration with other energy firms in the Pathways Alliance to build shared carbon capture and storage (CCS) infrastructure. In 2022, the company allocated $540 million for low-carbon initiatives.

The capital allocation strategy through 2025:

• Focus on optimizing the integrated value chain.
• Sustaining the base business operations.
• Growing low-carbon businesses.
• Expected to deliver an annual $2 billion of incremental free funds flow by 2025.

Suncor Energy Inc. (SU) - Canvas Business Model: Customer Relationships

You're looking at how Suncor Energy Inc. manages its diverse customer base, which spans millions of individual retail consumers to massive industrial buyers. This relationship strategy is deeply integrated, using the downstream network to drive consumer loyalty while the upstream strength underpins B2B reliability.

Transactional: High-volume, self-service interactions at Petro-Canada retail stations.

The retail fuel business, operating under the Petro-Canada brand, is the primary touchpoint for high-volume, self-service transactions. Petro-Canada is the leading fuel brand in Canada, holding an 18 per cent market share. As of May 2025, the network comprises more than 1,800 retail and wholesale locations nationwide, supported by approximately 15,000 associates and their staff. This physical presence is being actively managed, with the execution of a Petro-Canada retail network improvement plan listed as a major economic investment for the 2025 capital program. The network includes over 1,600 retail stations and 300 Petro-Pass wholesale locations.

The transactional relationship is enhanced by strategic co-location partnerships. As of May 2025, more than 90 A&W quick serve restaurants are co-located at Petro-Canada sites. Furthermore, the company has made strides in supporting the energy transition through its retail offering, including the 6,300 km long Canada's Electric Highway™.

Metric	Value (as of late 2025 data)
Petro-Canada Market Share	18 per cent
Total Retail & Wholesale Locations	More than 1,800
Retail Stations	Over 1,600
Petro-Pass Wholesale Locations	300
Retail Segment EBITDA Improvement Target	40 per cent by 2027

Dedicated Account Management: Long-term contracts with large B2B industrial and commercial clients.

For the Business-to-Business (B2B) segment, which includes industrial, commercial, and governmental entities, the relationship is built on long-term supply contracts ensuring consistent and reliable energy delivery. These large-scale customers drive significant revenue streams for Suncor Energy Inc. The importance of this segment is clear from historical figures; for instance, in Q3 2024, commercial sales generated approximately $10 billion in revenue. These contracts leverage Suncor's integrated upstream and refining capacity to secure supply.

Loyalty Programs: Petro-Points program to retain individual retail consumers.

The Petro-Points loyalty program, which originally launched in 1995, is central to retaining individual retail consumers. The structure is designed to encourage frequent engagement and higher spend across the network. Members earn 10 points per litre on fuel purchases and 10 points for every dollar spent on in-store purchases, including car wash. Every 1,000 points converts to $1 in free stuff, redeemable for fuel, car wash, and more.

Suncor Energy Inc. deepens this relationship through partnerships, allowing members to earn more value. For example, linking an RBC credit or debit card can provide up to 7¢ per litre in value every day. Furthermore, linking Petro-Points with Triangle Rewards® allows members to earn 20% more Petro-Points on qualifying purchases. Top-tier members, such as those achieving Platinum Status (requiring fueling 1,000L in 3 months starting January 1, 2026), could receive up to $500 in value back annually.

• Petro-Points Earning Rate (Fuel): 10 points per litre
• Petro-Points Earning Rate (In-Store): 10 points per dollar
• Redemption Value: 1,000 points = $1
• Maximum Annual Value for Platinum Status: Up to $500

Investor Relations: Transparent communication focused on free funds flow growth per share.

Investor relationships are managed with a clear focus on financial discipline and shareholder returns, with management stating they are 100% focused on growing free funds flow per share. This focus is demonstrated through tangible financial results and capital allocation commitments. Suncor achieved its net debt target of $8 billion ahead of schedule in Q3 2024, which enabled a policy of returning at or near 100% of excess funds to shareholders via share buybacks.

For the trailing twelve months ending September 2025, the Free Cash Flow per Share was $4.62, resulting in a Price-to-Free-Cash-Flow Ratio of 9.58 as of November 25, 2025. The company also maintains a commitment to a reliable, growing dividend, targeting annual growth of 3-5%. In the fourth quarter of 2025, the board approved a quarterly dividend increase of approximately 5% to $0.60 per share. The 2025 capital program was disciplined, with guidance reduced to a range of $5.7-$5.9 billion.

Financial performance in 2025 supports this narrative. For Q2 2025 year-to-date, Adjusted Funds From Operations (AFFO) reached $5.7 billion, yielding $2.9 billion of free funds flow. In Q3 2025 alone, the company generated $2.3 billion in free funds flow and returned over $1.4 billion to shareholders.

Finance: draft 13-week cash view by Friday.

Suncor Energy Inc. (SU) - Canvas Business Model: Channels

You're looking at how Suncor Energy Inc. moves its products from the wellhead and refinery to the end-user, which is a massive logistical undertaking across North America. Honestly, this part of the business model is where the integrated nature really shows up.

Petro-Canada Retail Stations

The Petro-Canada brand is the most visible channel for Suncor Energy Inc.'s direct-to-consumer (B2C) refined products. This network is key for capturing margin on every litre sold to the public. Suncor Energy Inc. retains this business to maximize cash flow and value generation, rather than selling it off.

The scale of this channel is substantial, providing a direct link to millions of Canadian consumers.

• Petro-Canada operates more than 1,600 retail stations nationwide.
• The network includes 300 Petro-Pass wholesale locations.
• Petro-Canada holds an 18 per cent market share of Canada's retail fuel sales.
• The company aims to boost earnings from its retail segment by 40 per cent by 2027 (a target set in late 2022).

Here's a quick look at the physical footprint of this consumer-facing channel as of late 2025:

Channel Component	Metric	Latest Reported Number
Retail Stations	Number of Locations	More than 1,600
Wholesale Locations	Petro-Pass Sites	300
Market Reach	Canadian Retail Fuel Market Share	18 per cent

Wholesale Distribution

Beyond the gas pump, Suncor Energy Inc. supplies commercial and industrial customers directly through its wholesale network. This channel moves bulk refined products like diesel and gasoline to large-volume users, which is a different kind of customer relationship than the retail side. This is supported by the output from Suncor Energy Inc.'s refineries.

For context on the volume flowing through downstream channels, Suncor Energy Inc. achieved a record first half 2025 refinery throughput of 462,000 barrels per day (bbls/d). By the third quarter of 2025, refined product sales hit a new quarterly record of 646,800 bbls/d.

Pipelines and Rail

Moving crude oil from the oil sands and refined products from the refineries requires significant transportation infrastructure. Suncor Energy Inc. relies on its own assets and third-party systems, like the Trans Mountain pipeline, to get product to market.

The Trans Mountain Expansion Project (TMEP) is a critical piece of infrastructure for Canadian oil exports. The expanded system has a nameplate capacity of 890,000 barrels per day (bpd). Since its startup, the TMX system has averaged 82% utilization. Total throughputs across all major Canadian export pipelines, including TMX, reached a record high of 5.0 million bpd in January 2025. Suncor Energy Inc.'s own Q3 2025 upstream production was 958,300 bbls/d, much of which needs this type of bulk transport.

Future capacity on the TMX system could increase further, with optimization projects potentially raising the system's capacity to about 1.25 million barrels/day.

Energy Trading Desks

Suncor Energy Inc. conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products, and power. These desks act as a channel by marketing the company's production and refined products to other traders, utilities, and large industrial buyers, often leveraging market differentials to maximize realized prices. The trading function is essential for managing the output from the company's record Q3 2025 upstream production of 958,300 bbls/d.

Canada's Electric Highway

This channel represents Suncor Energy Inc.'s direct move into the electric vehicle (EV) charging space, integrated within the Petro-Canada retail sites. It supports the company's lower-emissions fuel options strategy. The network is described as a coast-to-coast network of fast-charging EV stations.

The overall Canadian public EV charging network saw significant growth leading up to 2025. As of March 1, 2025, Canada had 2,192 DC fast charger stations across the country. The Petro-Canada network itself spans approximately 6,300 km from Halifax, NS to Victoria, BC.

Suncor Energy Inc. (SU) - Canvas Business Model: Customer Segments

You're analyzing Suncor Energy Inc.'s customer base as of late 2025, looking at how their integrated model serves distinct groups across the energy value chain. The company's structure, which includes upstream production, refining, and the Petro-Canada retail network, means their customers span from large industrial buyers to everyday drivers.

The primary customer groups Suncor Energy Inc. serves are segmented by the nature of the product and the point of sale in their integrated system. The Refining and Marketing segment, which brought in 31.34 B CAD in revenue in the last full year, is the direct interface for the downstream customers.

Here is a look at the operational scale relevant to these segments based on the third quarter of 2025 results:

Customer Group Proxy	Relevant Metric (Q3 2025)	Value
Upstream Buyers (Global Refiners/Traders)	Total Upstream Production (Working Interest)	870,000 bbls/d
Downstream/Retail (B2C & B2B)	Record Quarterly Refined Product Sales	647,000 bbls/d
Refining Operations (Feedstock for Downstream)	Record Refinery Throughput	492,000 bbls/d
Refined Product Output (SCO & Diesel)	Net SCO and Diesel Production	544,100 bbls/d

Business-to-Business (B2B): Industrial, commercial, and governmental entities needing bulk fuel/energy.

This group is served by the wholesale side of the Refining and Marketing business. These customers require large, consistent volumes of refined products like diesel, gasoline, and heating oil delivered directly or through terminals. The upstream segment also sells crude oil directly to other refiners who are not Suncor Energy Inc. themselves, though intersegment sales are eliminated for consolidated reporting.

• The company's integrated structure provides a natural hedge, meaning when crude prices are low, the refining margins for these B2B customers can sometimes improve.
• The total upstream production volume of 870,000 bbls/d in Q3 2025 represents the maximum potential supply for both internal use and external crude sales.

Individual Consumers (B2C): Drivers and households purchasing fuel and convenience items via retail.

Suncor Energy Inc. reaches this segment through its extensive Petro-Canada™ retail and wholesale distribution networks, which also includes the coast-to-coast Canada's Electric Highway™ for EV charging. These customers purchase finished products like gasoline and convenience store items.

• Refined product sales, which include retail volumes, hit a record of 647,000 bbls/d in the third quarter of 2025.
• The company recently increased its quarterly dividend per share by approximately 5% to $0.60 per share, which is a direct financial signal to this investor segment.

Global Refiners/Traders: Buyers of crude oil and natural gas produced upstream.

This segment consists of counterparties purchasing crude oil and natural gas from Suncor Energy Inc.'s Exploration and Production (E&P) and Oil Sands operations. These are typically large, sophisticated entities in the global commodity markets.

The total Oil Sands bitumen production was 812,200 bbls/d in Q3 2025. A portion of this, along with E&P output (which was 57,800 bbls/d in Q3 2025), is sold externally after Suncor's own refineries take their share.

Airlines and Transportation: Customers for jet fuel and heavy-duty diesel.

These are specialized B2B customers within the downstream market, requiring specific, high-specification fuels. Jet fuel and heavy-duty diesel are key components of the refined product slate.

The net production of SCO and diesel was 544,100 bbls/d in Q3 2025. This output feeds the demand from transportation logistics companies, trucking fleets, and aviation partners.

Finance: draft 13-week cash view by Friday.

Suncor Energy Inc. (SU) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Suncor Energy Inc.'s operational engine, and honestly, it's a capital-intensive machine. The cost structure is dominated by the sheer scale of maintaining and running the oilsands facilities and the integrated refining infrastructure. This isn't a light-asset business; it requires massive, ongoing investment just to keep the lights on and the barrels flowing.

The total planned capital expenditure (capex) for 2025 reflects this reality, though Suncor has shown discipline by reducing the overall budget. The updated 2025 capital program is set between C$5.7 billion and C$5.9 billion. This budget is strategically split between growth and keeping the existing base running smoothly.

Capital Intensive: High Fixed Costs

The fixed cost base is inherently high because you can't just turn off an oilsands mine or a major upgrader overnight without massive cost implications. The company's strategy is to balance this fixed cost burden by maximizing utilization, targeting annual refining utilization rates between 93 percent and 97 percent initially, later revised up to 101 percent to 102 percent by Q3 2025.

Asset Sustainment and Operating Costs

A significant portion of the capex is dedicated to keeping assets reliable. For 2025, the allocation for asset sustainment and maintenance capital expenditures is firmly set between C$3.125 billion and C$3.225 billion. This spend supports major activities like the 91-day outage at Base Plant Upgrader 1 for coke drum replacement and turnarounds at the Edmonton and Sarnia refineries, which are factored into production guidance.

Operating expenses, or cash operating costs, are tracked closely on a per-barrel basis. Here's how those costs looked under the initial 2025 guidance:

Cost Component	2025 Guidance Range (Per Barrel)
Oil Sands operations cash operating costs	C$26.00 to C$29.00
Fort Hills cash operating costs	C$33.00 to C$36.00
Syncrude cash operating costs	C$34.00 to C$37.00

Suncor has made progress in efficiency, reporting a reduction in its corporate WTI breakeven cost by US$10 per barrel compared to 2023.

Low-Carbon Investment

The transition cost structure includes specific, large-scale decarbonization spending. Suncor has a stated commitment of C$2.1 billion towards carbon capture technologies, aligning with its Pathways Alliance membership to reduce emissions intensity at its core industrial assets. This is part of a disciplined capital program that selectively invests in high-value economic opportunities, which for 2025 included approximately C$2.575 billion to C$2.675 billion for economic investment capital.

Royalties and Taxes

Payments to governments are a variable but substantial cost. Production volumes are reported before royalties, meaning these payments are a direct deduction from revenue. For the second quarter of 2025, the reported adjusted operating earnings were partially offset by lower royalties and income taxes compared to the prior year quarter, reflecting adjustments to the current business environment. The company updated its guidance ranges for current income taxes and royalties in August 2025 to reflect this environment.

• Total 2025 Capital Expenditures (Updated Guidance): C$5.7 billion to C$5.9 billion.
• Allocation to Asset Sustainment/Maintenance: C$3.125 billion to C$3.225 billion.
• Allocation to Economic Investment: C$2.575 billion to C$2.675 billion.
• Stated CCS/Decarbonization Commitment: C$2.1 billion.
• WTI Breakeven Cost Reduction (vs. 2023): US$10 per barrel.

Suncor Energy Inc. (SU) - Canvas Business Model: Revenue Streams

You're looking at the core ways Suncor Energy Inc. brings in cash, which is really the engine of this integrated model. It's a mix of selling raw materials and finished goods, plus some market activity.

Refined Product Sales: Gasoline, diesel, and jet fuel sales from the downstream segment.

This stream benefits directly from high utilization rates in the downstream assets. For the third quarter of 2025, Suncor Energy Inc. achieved record quarterly refined product sales volumes of 647,000 barrels per day (bbls/d). The refinery utilization hit a record 106% during that same period, showing they pushed maximum product out the door. The total sales figure for Q3 2025 was reported as CAD 13,565 million.

Crude Oil and Bitumen Sales: Revenue from upstream oil sands and E&P production.

This is the foundation, moving raw product from the ground. Suncor Energy Inc. reported record third quarter upstream production of 870,000 bbls/d in Q3 2025. This production included record quarterly output at Firebag and record production at Fort Hills. The upgraders ran at 102% utilization, which is key for upgrading bitumen into synthetic crude oil for sale or further refining.

Here's a quick look at the operational scale driving these two major revenue components for the third quarter of 2025:

Metric	Upstream Production (bbls/d)	Refinery Throughput (bbls/d)	Refined Product Sales (bbls/d)
Q3 2025 Value	870,000	492,000	647,000

Retail Fuel and Non-Fuel Sales: Income from Petro-Canada stations and convenience stores.

Suncor Energy Inc. operates the Petro-Canada retail and wholesale distribution networks. While specific Q3 2025 revenue figures for the non-fuel convenience store sales aren't isolated here, the overall downstream performance, which includes these retail sales, was strong, evidenced by the record refined product sales volumes.

• Petro-Canada network includes Canada's Electric Highway^TM for EV charging.
• The company's operations include petroleum refining in Canada and the U.S.

Energy Trading: Profits from marketing and trading crude, natural gas, and power.

This segment manages market exposure and captures margins from trading activities. For the first nine months of 2025, Suncor Energy Inc.'s results included a $16 million unrealized loss on risk management activities. The company also notes that revenue from power sales helps partially mitigate exposure to commodity costs in operating expenses.

Q3 2025 Revenue: Reported quarterly revenue of $12.55B CAD.

Suncor Energy Inc. reported revenue of $12.55B CAD for the quarter ending September 30, 2025. This compares to total reported sales of CAD 13,565 million for the same period. The adjusted operating earnings for Q3 2025 were $1.794 billion, which reflects the net result of these revenue streams offsetting costs.