However, regardless of haven taken $1.5-billion writedown on the project which resulted in net fourth-quarter loss for the company, Steve Williams declared that a final decision regarding the delayed multibillion-dollar project, which is shared with French giant Total S.A., will not be announcement until the end of March. Williams mentioned that “If you go out in the five-year-and-beyond time frame, clearly … we have a mix challenge on the continent,” he said on a conference call. “We have too much light, effectively, sweet crude, which is what upgraded synthetic crude, effectively, is, and if anything we have too little heavy crude. That’s quite a change. … Our view is that will cause on a squeeze on upgrading margins.” A decrement was recorded in share prices of Suncor Energy Inc. as it declined for more than $2, or six per cent, in Toronto to $32.36 after the company publicized its operating earnings of $1 billion, along with a net loss of $562 million in the last three months of 2012 due to the after-tax impairment charge on the partly built Voyageur upgrader.