for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

Canada's Suncor Energy swings to loss on impairment charge

May 5 (Reuters) - Canadian oil and gas producer Suncor Energy Inc swung to a quarterly loss on Tuesday, partly hurt by an after-tax impairment charge.

The Calgary, Alberta-based company posted a loss of C$3.53 billion ($2.51 billion), or C$2.31 per share, in the first quarter ended March 31, compared with a profit of C$1.47 billion, or C$0.93 per share, a year earlier.

The company recorded an after-tax impairment charge of C$1.798 billion on its share of the Fort Hills assets and against its share of the White Rose and Terra Nova assets. ($1 = 1.4037 Canadian dollars) (Reporting by Bharath Manjesh and Shradha Singh in Bengaluru; Editing by Shailesh Kuber)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up