Record Production and Operational Performance: Suncor achieved its highest second quarter and first half production in company history, with upstream production averaging 831,000 barrels per day, reflecting an increase of 89,000 barrels compared to the same period in the previous year. Refining throughput reached 462,000 barrels per day, showing a year-over-year increase of 81,000 barrels.

Cost Efficiency and CapEx Reduction: Operating costs decreased significantly, with first half OS&G expenses dropping by $765 million despite higher production and sales. The company reduced its 2025 capital expenditure guidance by $400 million to a new range of $5.7 billion to $5.9 billion, signifying a structural reduction in capital spending.

Strong Cash Returns to Shareholders: In Q2, Suncor returned nearly $1.5 billion to shareholders through dividends ($697 million) and share buybacks ($750 million). The company has repurchased 2.3% of its equity float so far in 2025, hinting at a robust commitment to shareholder returns.