Suncor Energy, which is moving toward taking over Petro-Canada, sank into the red in the first quarter on a series of one-time items, some related to shutting down work on a C$20.6 billion ($17 billion) oil sands expansion project. Operating earnings fell 72% as oil prices skidded, but the result beat expectations, partly on strength in the company's refining and marketing division, Suncor said on Thursday.
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