Page 93 - AIF - English

equipment failure or other accidents; our ability to operate result of our relationships with labour unions that represent

our Oil Sands facilities reliably in order to meet production employees at our facilities; and market demand for mineral
targets; the output of newly commissioned facilities, the rights and producing properties, potentially leading to

performance of which may be difficult to predict during losses on disposition or increased property acquisition
initial operations; the possibility that completed costs.

maintenance activities may not improve operational Factors that affect our Refining and Marketing segment
performance or the output of related facilities; our include, but are not limited to, fluctuations in demand and

dependence on pipeline capacity and other logistical supply for refined products that impact the company’s
constraints, which may affect our ability to distribute our margins; market competition, including potential new

products to market; our ability to finance Oil Sands growth market entrants; our ability to reliably operate refining and
and sustaining capital expenditures; the availability of marketing facilities in order to meet production or sales

bitumen feedstock for upgrading operations, which can be targets; the possibility that completed maintenance
negatively affected by poor ore grade quality, unplanned activities may not improve operational performance or the

mine equipment and extraction plant maintenance, tailings output of related facilities; risks and uncertainties affecting
storage, and in situ reservoir and equipment performance, construction or planned maintenance schedules, including
or the unavailability of third-party bitumen; inflationary
the availability of labour and other impacts of competing
pressures on operating costs, including labour, natural gas projects drawing on the same resources during the same
and other energy sources used in oil sands processes; our
time period; and the potential for disruptions to operations
ability to complete projects, including planned maintenance and construction projects as a result of our relationships
events, both on time and on budget, which could be
with labour unions or employee associations that represent
impacted by competition from other projects (including employees at our refineries and distribution facilities.
other oil sands projects) for goods and services and
Additional risks, uncertainties and other factors that could
demands on infrastructure in Alberta’s Wood Buffalo
region and the surrounding area (including housing, roads influence the financial and operating performance of all of
Suncor’s operating segments and activities include, but are
and schools); risks and uncertainties associated with
obtaining regulatory and stakeholder approval for not limited to, changes in general economic, market and
business conditions, such as commodity prices, interest
exploration and development activities; changes to royalty rates and currency exchange rates; fluctuations in supply
and tax legislation and related agreements that could
and demand for Suncor’s products; the successful and
impact our business; the potential for disruptions to timely implementation of capital projects, including growth
operations and construction projects as a result of our
projects and regulatory projects; competitive actions of
relationships with labour unions that represent employees other companies, including increased competition from
at our facilities; and changes to environmental regulations
other oil and gas companies or from companies that
or legislation.
provide alternative sources of energy; labour and material

Factors that affect our Exploration and Production segment shortages; actions by government authorities, including the
include, but are not limited to, volatility in crude oil and imposition or reassessment of taxes or changes to fees and

natural gas prices; operational risks and uncertainties royalties, such as Suncor’s current disagreement with the
associated with oil and gas activities, including unexpected Canada Revenue Agency relating to the settlement of
formations or pressures, premature declines of reservoirs,
certain derivative contracts, including the risk that Suncor
fires, blow-outs, equipment failures and other accidents, may not be able to successfully defend its original filing
uncontrollable flows of crude oil, natural gas or well fluids,
position if it is reassessed and ultimately be required to pay
and pollution and other environmental risks; the possibility increased taxes as a result; and changes in environmental
that completed maintenance activities may not improve
and other regulations; the ability and willingness of parties
operational performance or the output of related facilities; with whom we have material relationships to perform their
adverse weather conditions, which could disrupt output
obligations to us; outages to third party infrastructure that
from producing assets or impact drilling programs, could cause disruptions to production; the occurrence of
resulting in increased costs and/or delays in bringing on
unexpected events such as fires, equipment failures and
new production; political, economic and socio-economic other similar events affecting Suncor or other parties
risks associated with Suncor’s foreign operations, including
whose operations or assets directly or indirectly affect
the unpredictability of operating in Libya and that Suncor; the potential for security breaches of Suncor’s
operations in Syria continue to be impacted by sanctions or
information systems by computer hackers or cyberterrorists,
political unrest; risks and uncertainties associated with and the unavailability or failure of such systems to perform
obtaining regulatory and stakeholder approval for
as anticipated as a result of such breaches; our ability to
exploration and development activities; the potential for find new oil and gas reserves that can be developed
disruptions to operations and construction projects as a
economically; the accuracy of Suncor’s reserves, resources

SUNCOR ENERGY INC. ANNUAL INFORMATION FORM 2014 91