Suncor to boost spending by 9 percent in 2013

Mon Dec 3, 2012 5:52pm EST
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CALGARY, Alberta Dec 3 (Reuters) - Suncor Energy Inc , Canada's largest energy company, said on Monday it will spend C$7.3 billion ($7.4 billion) in 2013, up 9 percent from this year, with most of the budget directed at oil sands development.

Suncor, which has signaled it will not rush into planned megaprojects, said overall oil and gas production is expected to be 570,000-620,000 barrels a day. That compares with a 2012 estimate of 540,000-580,000 barrels a day.