Suncor Energy and Canadian Natural Resources Limited are seeing strong starts to 2021.
Both oil companies released their first-quarter updates this week, highlighting net earnings of $821 million and $1.4 billion respectively.
The two combined for a net loss of $4.7 billion in the first three months of 2020.
“In the first quarter of 2021, we demonstrated our continued commitment to operational excellence through combined upgrader utilization of 97 per cent, record In Situ production, and improved cost performance in the upstream,” said Mark Little, Suncor President, and CEO.
Despite the strong start, Suncor and CNRL continue to be impacted heavily by COVID-19.
There are nine outbreaks at sites run by the two companies. This includes Syncrude‘s Mildred Lake and Aurora sites.
“The COVID-19 pandemic continues to challenge our everyday living and the way we operate our businesses,” added Tim McKay, CNRL President. “With our strong measures in place we have minimized impacts on our operations, but it remains a daily challenge for our field staff to do it safely and do it right.”
According to the Oil Sands Community Alliance, Alberta Health Services and industry leaders are working towards setting up vaccine clinics for on-site workers.
They have not been set up at this time and will depend on supply and capacity.
