Canadian oil producer Suncor well-protected against tariff threat, CEO says
CALGARY (Reuters) -Canadian oil producer Suncor Energy is well-positioned compared to many of its competitors to weather threatened U.S. tariffs, CEO Rich Kruger said on Thursday. On a conference call with analysts, Kruger said between 60% and 65% of Calgary, Alberta-based Suncor's production stays in Canada, either to be refined or shipped off the British Columbia coast via the Trans Mountain pipeline. The integrated nature of the second-biggest Canadian oil producer's assets gives the company a "natural hedge" against tariffs, compared to other Canadian oil producers who move their crude to U.S. refineries, Kruger said.