The oilsands major posted a 136 per cent jump in third-quarter net earnings, up from $1.6 billion a year earlier, as its refining business benefited from sharply higher margins on gasoline and diesel. The firm also faced questions from analysts Wednesday about its appetite for pursuing another wave of major oilsands growth projects. (The Logic)

Talking point: CEO Rich Kruger said he welcomed Ottawa’s new Productivity Mega Deduction—which allows accelerated tax writeoffs for certain capital expenditures, including oil and gas development expenses—but said the government needs to do more before producers will commit to major new projects. The Oil Sands Alliance, an industry group which includes Suncor, is seeking royalty concessions and clarity on the final terms of a federal-Alberta agreement currently targeted for Nov. 15. “Now you’re changing the fundamental underlying fiscal and regulatory regime, and yes, that in aggregate can lead us to be more ambitious, more aggressive on long-term capital investments,” Kruger said.

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