December 13, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Oil exploration and production companies are trimming their capital-spending (capex) plans amid weakening crude prices, and Suncor Energy Incorporated (NYSE:SU) (Calgary, Alberta) is no exception: Despite strong financial results to date for 2024, the Canadian giant expects spending to be slightly lower in 2025 and focused largely on its developments in Alberta's oil sands region.

Industrial Info is tracking nearly US$20 billion worth of active and proposed projects from Suncor, nearly all of which is attributed to projects in the oil sands. Executives highlighted Suncor's Fort Hills development, which they said was "right on plan" at 166,000 barrels per day.