{"id":34906,"date":"2026-05-06T22:34:06","date_gmt":"2026-05-06T22:34:06","guid":{"rendered":"https:\/\/www.europesays.com\/canada\/34906\/"},"modified":"2026-05-06T22:34:06","modified_gmt":"2026-05-06T22:34:06","slug":"suncor-rides-a-wave-of-demand-for-made-in-canada-jet-fuel","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/canada\/34906\/","title":{"rendered":"Suncor rides a wave of demand for made-in-Canada jet fuel"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

A Suncor Energy refinery in Montreal, June, 2025. Suncor reported earnings of $2.1-billion in the first quarter of this year, underscoring how sky-high oil prices and a dearth of global supplies have boosted the books of Canadian players.Christopher Katsarov\/The Canadian Press<\/p>\n

When Suncor Energy Inc. SU-T<\/a> started refining jet fuel for the first time at its Montreal refinery in December, it expected to sell the product to local airports, maybe send a small amount to Ottawa. <\/p>\n

Then, on Feb. 28, the U.S. and Israel bombed Iran<\/a>. In retaliation, the Gulf nation closed a vital shipping route<\/a>, choking off a fifth of the world\u2019s oil and gas supplies and triggering an energy crisis that has seen countries scramble to find the fuels they need to power their economies. <\/p>\n

The timing of Suncor\u2019s foray into jet fuel production in Montreal was prescient. Instead of supplying the domestic market, it pivoted to exports. <\/p>\n

Suncor has significantly boosted its trade relationships in recent years, increasing its reach from roughly 20 countries to 45. <\/p>\n

In March, Suncor sent diesel and jet fuel to the Philippines and Puerto Rico, \u201cboth at significant premiums to market pricing,\u201d chief financial officer Troy Little told analysts during a Wednesday earnings call. Jet fuel from the Montreal refinery specifically has gone to the Caribbean and, last week, its first European cargo was sold into Rotterdam.<\/p>\n

\u201cWe have spent years building up the logistics and commercial capabilities to act on opportunities just like these, and that investment paid off meaningfully this past quarter,\u201d Mr. Little said. <\/p>\n

Suncor\u2019s first-quarter fiscal results, reported Tuesday evening, underscore just how much sky-high oil prices and a dearth of global supplies have boosted the books of Canadian players. <\/p>\n

Canada should accelerate new energy infrastructure as markets shift, IEA chief says<\/a><\/p>\n

Suncor reported earnings of $2.1-billion in the first quarter of this year. That\u2019s up 50 per cent over the three months prior, and 24 per cent higher than the first quarter of 2025. <\/p>\n

Similarly, Cenovus Energy Inc. CVE-T<\/a> reported $1.6-billion earnings in the first three months of this year, up 68 per cent from the fourth quarter of 2025 and 82 per cent higher than the first three months of 2025. <\/p>\n

The price of West Texas Intermediate, the North American benchmark, climbed to US$109.76 on Tuesday, compared with US$66.96 in February the day before the war began, according to data from the U.S. Energy Information Agency. Last week, Brent crude, the international benchmark, soared to a wartime record<\/a> of US$126 a barrel, and crude grades from the Middle East, North Atlantic and West Africa are also higher than their prewar price.<\/p>\n

Chatter of a possible agreemen<\/a>t between the U.S. and Iran caused global oil prices to plunge Wednesday. But for now, the vital Strait of Hormuz shipping route remains all but closed, with no end to the impasse in sight. <\/p>\n

The jury is still out on how Suncor\u2019s new market opportunities play out, the company\u2019s chief executive Rich Kruger told analysts. It will largely depend on how and when the conflict in Iran is resolved, and how Suncor can compete with customers\u2019 alternatives once that happens. <\/p>\n

Still, he believes that the company\u2019s expanded marketing reach will endure over time. <\/p>\n

\u201cThis is a strategy that continues to develop and unfold, and, with it, you\u2019re seeing the higher sales volumes,\u201d he said.<\/p>\n

The Montreal refinery isn\u2019t yet producing a whole lot of jet fuel, but it has the potential to grow to roughly 16,000 barrels a day. <\/p>\n

Opinion: The Iran war, the Saudis\u2019 bold bet and why Canada needs a new pipeline<\/a><\/p>\n

Aside from establishing trade relationships in the first place, \u201cyou\u2019ve got to produce it to sell it\u201d \u2013 and Suncor refined a record amount in the first quarter of this year, said Dave Oldreive, Suncor\u2019s executive vice-president of downstream operations. <\/p>\n

When countries that rely on products from the Middle East searched for alternate supplies, Suncor scaled up its logistics systems on export routes. <\/p>\n

That included its Burrard Terminal located in Vancouver\u2019s Lower Mainland. It\u2019s the company\u2019s most profitable and its lowest cost option for exports, and the one from which most of its West Coast diesel exports depart. <\/p>\n

Suncor sent 14 cargoes in the first quarter of 2026, compared with 28 in all of 2025. <\/p>\n

\u201cWe\u2019ve been able to scale that up to capture a pretty unique opportunity and I\u2019d expect us, depending on where the market goes, to have that ability going forward,\u201d Mr. Oldreive said. <\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: A Suncor Energy refinery in Montreal, June, 2025. Suncor reported earnings of $2.1-billion…\n","protected":false},"author":2,"featured_media":34907,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[164,224,238,214,212,239,17,211,230,231,227,213,210,235,171,234,143,222,249,215,216,229,225,226,219,240,220,244,245,247,242,246,94,243,217,142,233,113,232,241,223,236,237,228,221,218,248],"class_list":{"0":"post-34906","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-canada","8":"tag-alberta","9":"tag-arts-news","10":"tag-bc","11":"tag-breaking-news","12":"tag-breaking-news-video","13":"tag-british-columbia","14":"tag-canada","15":"tag-canada-news","16":"tag-canada-sports","17":"tag-canada-sports-news","18":"tag-canada-trafficcanada-weather","19":"tag-canadian-breaking-news","20":"tag-canadian-news","21":"tag-economy","22":"tag-education","23":"tag-environment","24":"tag-federal-government","25":"tag-foreign-news","26":"tag-globe-and-mail","27":"tag-globe-and-mail-breaking-news","28":"tag-globe-and-mail-canada-news","29":"tag-government","30":"tag-life-news","31":"tag-lifestyle","32":"tag-local-news","33":"tag-manitoba","34":"tag-national-news","35":"tag-new-brunswick","36":"tag-newfoundland-and-labrador","37":"tag-northwest-territories","38":"tag-nova-scotia","39":"tag-nunavut","40":"tag-ontario","41":"tag-pei","42":"tag-photos","43":"tag-political-news","44":"tag-political-opinion","45":"tag-politics","46":"tag-politics-news","47":"tag-quebec","48":"tag-sports-news","49":"tag-technology","50":"tag-travel","51":"tag-trudeau","52":"tag-us-news","53":"tag-world-news","54":"tag-yukon"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/34906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=34906"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/34906\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/34907"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=34906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=34906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=34906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}