) booked a more than fourfold profit increase in its second quarter, driven by higher crude prices as the company's new interim CEO looks to pare down assets, and improve a battered safety record on the heels of worksite deaths.
Suncor says adjusted funds operations topped $5.35 billion in the quarter, the highest in the company's history, as the price of North American benchmark crude averaged US$108 per barrel. The company cited inflation and required spending on safety improvements as it nudged up its full-year capital expenditure forecast to $4.9 billion to $5.2 billion, from $4.7 billion.
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