Suncor Expects ‘Record’ Cash Flow in 2011, Chief George Says
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Suncor Energy Inc., Canada’s largest oil-sands producer, will report record cash flow this year because of higher oil prices and lower costs, Chief Executive Officer Rick George said.
“We’re going to have a great year, a record year for us” in terms of cash flow, George said in an interview yesterday at Bloomberg’s headquarters in New York. Cash flow has been buoyed by increasing oil prices as well as lower costs following the 2009 takeover of Petro-Canada. The company reported C$5.49 billion ($5.55 billion) in cash flow from operations last year.