Wildfire Burned Up Nearly $800 Million In Related Costs For Suncor

Reuters reported that Suncor Energy Inc SU told employees the wildfires that swept through the Alberta oil sands area last month cost the company $778 million.

While a Suncor spokesperson declined to comment, two employees speaking anonymously said employees were told Monday to expect fire-related losses of “just shy” of $1 billion.

Suncor shares were down 1 percent to $26.58 near the close of Tuesday’s trading.