July 27, 2017 / 12:22 AM / 3 years ago

Suncor Energy reports second-quarter profit

CALGARY, Alberta, July 26 (Reuters) - Suncor Energy Inc , Canada’s second-largest oil and gas producer, reported a second-quarter profit on Wednesday as a result of stronger crude oil prices and increased production from its upstream assets and refining operations.

The company reported a net profit of C$435 million ($349.57 million), or 26 Canadian cents per share, versus a loss of C$735 million, or 46 Canadian cents per share, during the same period a year earlier when wildfires in northern Alberta disrupted production.

Suncor’s operating profit, which excludes one-time items, was C$199 million, or 12 Canadian cents per share, in the second quarter, from a loss of C$565 million, or 36 Canadian cents per share, in the year-ago period.

Suncor produced a total of 539,100 barrels of oil equivalent per day in the second quarter, up from 330,700 boepd in the same period of 2016. ($1 = 1.2444 Canadian dollars) (Reporting by Nia Williams; Editing by Leslie Adler)

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