Aug 5 (Reuters) -
Canadian oil producer Suncor Energy ( SU ) exceeded
analysts' second-quarter profit expectations on Tuesday, as
higher output helped offset the impact of weak commodity prices.
Even as volatility in oil prices drives the broader energy
industry into a downturn, Canada's oil sands sector remains
resilient.
Canadian producers are benefiting from the expansion of
the
Trans Mountain pipeline
, which increased capacity to 890,000 barrels per day.
Suncor's upstream quarterly production rose to 808,100
barrels per day (bpd) from 770,600 bpd a year ago.
Its refinery throughput climbed to 442,000 bpd during
the quarter, while refinery utilization improved to 95% from 92%
a year earlier.
The Calgary, Alberta-based company reported an adjusted
profit of 71 Canadian cents per share for the quarter ended June
30, beating analysts' average estimate of 69 Canadian cents per
share, according to data compiled by LSEG.