The 117,000 b/d Commerce City, Colo., refinery has become a key asset of Suncor Energy due to the facility's improved performance and its ability to supply the U.S. West Coast and nearby markets amid a fuel deficit following recent California refinery closures, says Chief Executive Rich Kruger.
During a second-quarter earnings call Wednesday, Kruger said he expects Suncor's refineries on Canada's West and East coasts to continue expanding their export capacity after the company boosted its jet fuel and diesel cargoes to overseas markets during the second quarter of the year.
Kruger told analysts that Suncor's team has improved operations and reliability at its 117,000 b/d Commerce City refinery near Denver while lowering costs. The refinery completed a turnaround during Q2 in 50 days, which was well under the 74 days similar work took in 2021, he said.
"That facility's value to us has grown materially based on their performance, and we think that is also sustainable," Kruger said.
Suncor's only U.S. refinery has, in the last several years, struggled to restart following shutdowns and experienced issues with obtaining federal air permits. The refinery supplies about a quarter of Colorado's gasoline, half the state's diesel and one third of the jet fuel used at Denver International Airport.
