Feb 5 (Reuters) - Canada's Suncor Energy ( SU ) beat
analysts' estimates for fourth-quarter profit on Wednesday as
the integrated oil and gas firm benefited from higher oil
production and sales volumes.
The country's oil producers benefited after the Trans
Mountain Pipeline expansion project began commercial operations
last year, as it increased their transportation capacity and
opened up market access to refineries in Asia and the U.S. West
Coast.
The expanded pipeline has nearly tripled the flow of crude
from Alberta's oil sands to British Columbia on the Pacific
Coast to 890,000 barrels per day.
Calgary, Alberta-based Suncor's upstream production rose to
875,000 barrels per day (bpd) during the fourth quarter from
808,000 bpd.
The company said its refinery throughput rose to 486,000 bpd
during the quarter, while its refinery utilization more than
doubled.
On an adjusted basis, Suncor earned C$1.25 ($0.8733) per
share, compared with the average analyst estimate of C$1.10 per
share, according to data compiled by LSEG.
($1 = 1.4313 Canadian dollars)