Canada’s Suncor Energy produced record volumes of synthetic crude oil in the first quarter, the company said on Thursday, as it sought to maximize high-value production to offset the impact of Alberta government curtailments. The government of Alberta, Canada’s main crude-producing province and home to the oil sands, mandated temporary production cuts effective Jan. 1 to ease congestion on oil export pipelines and boost sagging crude prices. While a number of integrated producers, including Suncor, have criticized the government intervention in the market, company profits improved this quarter after a rebound in prices as a result of curtailments. Calgary-based Suncor reported operating earnings of C$1.2 billion ($891.73 million) on Wednesday. Mark Little, who took over as chief executive from Steve Williams on Thursday, said on an […]