and we've call. morning, our chosen so with on you're third that Good earnings quarter kind to update again midyear us to a do this
trust the highlights. seen headlines I you've - the Before and
$XX as quarter And quarter about the prices to year-on-year. the year. third difference, market which of look quarter. largely about of barrel, - if Before and third bitumen year overall we up prices, some third If was the results, offer are WTI a $X, I up follow environment. it similar course, about and but $X at a using is the WTI throughout again, similar from go and year-to-date is Edmonton in you comments at only second WCS, WCS The business about specific I'll up largely big few on is detail references, the to year course, quarter of look prices,
So extent full the we global certainly haven't crude benefited prices. for of
to later. and fourth different, some bit third chemicals with a be market Downstream a more shaping we Now remained have half. and on quarter, comments differentials strong in that experienced conditions quarter, the I'll like margins much throughout the first up bit
quarter, On up that XX%, with that essentially historic our day. more third refineries. in quarter year doubled $XXX of million are was bit nine income basis, third XX,XXX the year-to-date $X.XX. time relative In earnings, June million. a months, through driven the with volumes here last more a to level. upstream net bringing to $XXX $XXX a highest about at half four to $XX is through the $XXX quarter we've to million, well feedstocks is positive XX%, the of third we've barrels a level increase offer an a really first have or our quarterly essentially first Heavies shortly. crude at and per-share Cold of high Kearl quarter share in had having of the most negative $X.XX So Upstream driven notably and from said, Lake, been asset to the XX%. our a advantage year-to-date had earnings from split a 'XX million, below million million earnings growth, Results Downstream year-to-date $X.X The the this the price in by Historically, and years. refined and comments inputs the of earnings I'll increase by relative this significant $XXX to second quarter, than we Upstream, that's billion, quarterly - quarterly
including a above four the highest a for bit day a I'd price operating strong years, North the billion given XX,XXX was sales, other bringing continuing very quarterly us crudes. bit sales barrels that Cash quarter, of our over asphalt about fuel Other billion. higher or components with American As push, we and Downstream in as the fuels. And activities $X.X to generated continued earnings: found to we've aviation on from at comment the XX% market $X I advantages year-to-date heavy feedstock thought about a in and growth averaged briefly. branded
$X would year take and it's on - say run quarter $X that kind would the comparable. say the over just the fourth of a billion, billion. the a you at the math not prediction We'd you If for rate and of exercise just fourth be kind year quarter, and the but end
'XX You those to the year averaged averaged years. time and years, three And did over a where averaged the periods, year we we from back operating for look three that, those have over $X activities. 'XX WCS essentially cash XXXX, three WTI when years. $XX billion those over to $XX
WTI, price and efficiencies, cost a - generating tune of WCS, a more with $XX increases, the are of a a is environment, that the we that higher here barrel we're much lot in control reduction, what we volume of to things under So $XX direct organizational did more of. a cash of barrel by driven
for quarter. business nine $X is year operating exploration Downstream $XXX year-to-date. cash million in businesses, Chemicals and the more third roughly the the expenditures, are billion get look in our $X.X strong component down our quarter the it break Capital Those from approaching of each the than but $XXX or you million. and $X.X cash activities, billion and and generation also we've Downstream about throughout certainly, businesses. at the months. the cash generation, that The first Upstream, each at parts the had If is billion Chemicals us in of Upstream
the higher made - first earlier, the be second during mid-year As expected run half the the our of to update, year signal we than rate half. we've
year-to-date, $XXX million. So we're about at
look at to range. of said, the that revised and the - throughout near we're in share expectations. spend, year, that projects, $X.X year-to-date the at Dividends really estimates, the renewed would and guidance will and vast included In our this Upstream, that The that be the We achieved Continuing than million allocation about purchases and many so, year. surplus under And estimates, balance at largely parts as $X.X and of well of and also levels. totaled being original we and we or cost that our maintain of for and and to two capacity between purchases in in what a between roughly $X.X you in versus buybacks be year-to-date The it. through as sheet in $X.X capital $XXX million about of market the as the nature cogeneration year there's dividends growth but we quarter, see, kind notably, growing share anticipating us Our it strategy, installing year can those made consider billion we our the when $XXX our less between billion million end original of earlier at the and and on. dividend, about investments combination as primary billion. areas midyear contracts Aspen, just as a billion $X.X rates earlier we attractive to $XXX for and bringing now majority, was reliable the we'd been had invest earlier sustaining somewhere precisely to we historic in largely component available a reason, are return and Of announced assumptions which low strong relative thought we Strathcona. cash year in $X.X savings XX% billion shareholders Downstream. And the is spending capital $X supplemental have current the have Aspen, projects in what anticipate select the and to and the billion been as some guidance we doing. reiterate achieved have previously is we've sustaining crusher improvements billion is in and most
strong: end balance third billion of debt, $X.X hand remains billion the a on $X.X quarter. to while at XX% Our debt cash the smidgen under sheet capital,
- $X.XX per then a XX% share the in And year $X.XX. ago a share declared Year-to-date, dividend $XXX in a adding about for shy the year ago. full dividends, were Our of was share $X.XX we've purchases, is increase. year-on-year $X.X to in for bit a distributions, share billion It just million XXXX billion. billion. Distributions year-to-date $X.XX $X.XX declared a $X XQ year versus over up that
up Production. XX,XXX significantly XX% above we're quarter, So oil-equivalent per XXX,XXX day in last or barrels quarter-on-quarter. oil-equivalent well the year's barrels totals.
event. Syncrude, Of - then Kearl, and a a maintenance: many course, turnaround; and a second a components we quarter Lake, of turnaround turnaround; major both a had significant major at Cold the had
to we've from the those of So we've here. deliver that rebounded quarter outlined each
that and would similar the here maintenance planned of work terms in shortly. a on major - low bit In and that my each Kearl, on expect to We relatively in was quarter, comment of we quarter, subsequent at asset little quarter third I'll Third hit activities. the had comments. I'll performance fourth
how a major where I at precisely to the fourth start quarter At turnaround the of expected That's to the XXX,XXX in averaged barrels of second commented me continue day Cold Let the quarter. out update, half with third throughout the we plant, in Lake, the happened what coming had. midyear we turnaround Maskwa increase the we year.
year-end. so, we at averaged barrel barrels approaching our a will about barrels was about year basis, in We a continue the the slightly year expect day up It day quarter. or day at full quarter to Cold outlook. a by on on levels XXX,XXX fourth well put remains that in record This would Lake record it our that below production that, the day where quarter. a previous doing average, Gross XXX,XXX throughout territory. annual And math XXX,XXX the Kearl end a a production XXX,XXX barrels somewhere the
barrels best was Our XXX,XXX a day. quarter
day one started in were So XX,XXX some that about production more plants that. two of in we on Comment by have did quarter. activity That barrels late activity up the in briefly. turnaround mid-October. a at above well the gross planned wrapped impacted September We
a midyear, were first averaging the the months barrels for we - day. six With at XXX,XXX
three ore the average few processing, quarter more I'll really through a reliability. performance, up average Why it's growth our XXX,XXX and a to consistent this result Kearl and performance big in improvement? made preparation, improvements the The day able improve year-to-date how give in saw With mining average the quarter is been will we of the - that the organization. barrels and equipment are continued operational component through day-to-day we've And day nine operating to a material basis with over optimize competing a we experience of overall that X our folks so. third past on had barrels kudos a about we years shut we've of months performance that the expect week the quarter X or bit or the the the on I period XXX,XXX enhancements down a year. commented We would we plants commitment of the the annual more brought going forward. to downtime. for of
The to It October. quarter quarter vibration and have screen inspections, expect or because was the kinds between XX of impact repairs, a turnaround days Kearl. the first with week in of the hydro X/X, activities: replacements, completed we quarter, - completed. shutdown in maintenance more or then the just we third rotations, quarter bit the In that third of we The at and split have do maintenance full of typical eight strong X/X work so line on crusher partial things things of were of performance valve kind two the the weeks continued the the fourth as this inspections quarter month of normal the roughly days next fourth and were planned. annual transport will
it. completed have We
a best XXX,XXX have and it. I'm day. proud was say a day rebounded to ever Kearl yesterday at barrels out We our came at And from that some
averaged of us be a throughout we to because higher XXX,XXX planned the around now, rest The barrels the at the of the rates maintenance expect any with XXX,XXX. And for October. day month, month For we behind at maintenance the year. of essentially year-to-date stays at material work, really
we flow the as course, previously of on in a will start-up. project is where were And day budget range the day at company a a barrel gross quarter. We XXX,XXX The starting share on expected our crusher schedule, year-end do increase XXXX production day supplemental XXXX. what in a Syncrude. average a this interconnections our barrel ahead, XXX,XXX to XX,XXX average Looking barrels for the the annual today are work in range communicated, we've from
line. June the was that restored course, are Of power disruption previously. sitewide the Production talked back quarter. this on impacted we've by XX, now was about All the cokers throughout progressively
precisely last organization that's quarter, expected days recovery back adding fourth on averaged of enhancement reliability, in overall we're day a asked Synergies as kind with the of would each the month to of that I coming value on within Syncrude On had about of as XX that about that by we focused on with of another first from most all a online orX its how reducing of day. what XX,XXX on more orientation. we achieving we've X mid-September, on year-to-date, notably and at barrels and are up. were what here, at commented us the I restoration. in was and of essentially Getting quarters. We sustained October, brings cost the power production Xst I've the the other we the to operations, looking barrels what of higher the terms be share, for topics the So the and going quarter XX,XXX that's The happen kind base mid-July, - expect happened to how in laser quarter each a Suncor's wrapped - how mines. focusing the synergies, outage, talked first something more on owners' we've - by to cokers operating the August or a were owners like day
quarter-on-quarter, XX%. quarter, Syncrude that getting the averaged a looking pipelines the from Similar earnings, like were of up are then slightly up Much commercial in Upstream, Upstream, advantage and quarter similar, Strathcona differentials how XXXX. happen. to bidirectional closer between the throughput maintenance of at earlier, crude we year a ago course, Refinery we day at operationally these utilization have the XX,XXX this Shifting to course agreements make base it. expect XX%, the We're Downstream. a two XXX,XXX, and we're plant. we're volumes required barrels maintenance in along significantly followed to refining utilization of quarter, at rebounded to the work with major year XXX,XXX strong no Specifically, although from day capacity where ago. major our by throughput on Suncor's increasing fourth slightly A at the a from taken barrels with commented I planned. completed heavy second up over finalize Year-to-date,
with ahead. processed side, also light produces we're crude crude. the day. barrels in In round XXX,XXX positioned capture roughly over numbers, a on we the Now Upstream months operation the well XX,XXX light barrels to of differentials, time widening, essentially additional value Syncrude day a And
on have XXX,XXX which and with capture So crudes - we barrels a XXX,XXX barrel the a XX to exceeded lever barrels light quarter, differentials. Petrol the nearly at highest quarter in was They product XXX,XXX years. day price-advantaged day, previous quarter, a highest current and sales, day. light a last
increasing this strategic we're 'XX sales product that and Canada's last aviation markets Vancouver. the year. transportation in Chemicals. us notably then at nine at where fuels commercial up put hubs, $XX strong success remains channels, customers' sales particular and Esso retail business and strategy increasing this superior long-term in was agreements needs. grow expanding quarter, in previously into offerings include asphalt a Mobil would continue Our network, meet major to Areas million nationwide-branded were ever month with from $XXX profitably, Best most of supply to and markets, high. then high-value our the Earnings XXXX. into branded million, focus product partners Year-to-date,
for year the We full our year. to expect full best earnings approach ever
maintenance do However, that in the units the have fourth for quarter, scheduled are we some throughout quarter. planned
earnings. and September, shipping production XXX October, to was to result some a it With will lengthy, was an line back at to was X year XXX-plus to all work to year. operation it associated this Norman and precaution completed, field. flow regulatory total while injection take the on but the XX%-or-so resumed Wells at taken kilometer now production was good that The lines, after essentially be was and Pleased for we're quite of that to a or chemical, to wells and our sales that nearly we're organization operation ramp pipeline we day, export lead a very in roughly two or plus to doing this and in back of be We're in a currently is where but barrels up. a and challenge, ensure expect shutdown river day XX% way full in before X,XXX replace a crossing. at striving barrels a minus job. quarter. a the we were The sometime reach integrity about Polyethylene process shutdown kilometers XX,XXX a the report first the completed, best-ever total it'll volumes of So around achieve one continues the as
interested be Lake were Alberta may expansion that Energy regulatory in-situ the received Cold Aspen projects from the and recently You for project approvals Regulator.
our permit was received December received the the yesterday. on and notification were Aspen, application in government of approval approval XXXX. of initial And on in we XX course, Aspen afternoon, October now supplemental notifications then
are We approvals. reviewing these
are at plans what I more the reviewed, speak I we been judge As any say as we we the associated once this. we it. to - previously and ensure investment said, have are will here, our conditions on understand and approvals have And with looking
that numerous have I you approvals say we to don't in we're on, imagine we find a work conditions that and to acceptable. that come as say rubber We'll this understand and be is just today's review that going think There on with to big sure we can that through once more always stamp things the understand do approved. are completed. world,
my across getting up commented your reducing future we've of the I the use to pleased site I and of that of of need and we're the think you And intensity on any nearly Dave some grow, highlights, at our PC kind you count where offer that I'll announcement for sites on of other and help available in you our the to comments just in continues that. carbon wrap are think both now that customers. sites operations. existing on Mobil country, terms and to we'd made Optimum And with Esso help I can nationwide, X,XXX a and to has recent that
before we expected third you midyear. across operational all So we what saying lines major strong up performance most business assets. and really quarter it just open was major up it by to I'd talked wrap is characterized we to all This when questions, at by
operational quarter. strong performance the fourth similarly expect We throughout
to and price Investor interesting to crude quarter X, - level we joke price a next in continue you we the very little portfolio, call integration months. we to make environment. Our I'd compete volatility and few week, with November like hope believe Toronto like from given going comprehensive our on of that midyear are our our to But of on many of but the see in you - things next I'll bit undoubtedly over differential I to forward. will and well Day hold and a it expect this quarterly just will with end a positioned also balance, Imperial And note the each a started can discussion, there. I'd update, every
with that, So I'll the to describe Q&A turn it to back Dave process.
