Suncor today confirmed that it has assumed operatorship of the Syncrude Joint Venture, a critical step towards driving greater efficiencies and competitiveness across all Suncor-operated assets in the Regional Municipality of Wood Buffalo . The arrangement, which has the full support of the Syncrude joint venture owners and was initially announced in the fourth quarter of 2020, reflects Suncor's confidence in the Syncrude [...]
Suncor today announced the signing of agreements with eight Indigenous communities in the Regional Municipality of Wood Buffalo to acquire all of TC Energy's 15 per cent equity interest in the Northern Courier Pipeline Limited Partnership. This historic partnership includes Suncor, three First Nations and five M?tis communities who will own a 15 per cent stake in this pipeline asset with a value of approximately $1.3 [...]
Suncor today announced it has entered into a conditional agreement to increase its interest in the White Rose asset subject to a restart decision on the West White Rose project. As part of the conditional agreement, Cenovus, the operator, will complete a restart evaluation for the West White Rose project by mid 2022. Should the project economics be robust enough to lead to a restart decision, Suncor has agreed to increase [...]
Suncor today announced that the co-owners of the Terra Nova Floating, Production, Storage and Offloading facility and associated Terra Nova Field have finalized the agreement to restructure the project ownership and move forward with the Asset Life Extension Project. Suncor, Cenovus and Murphy Oil, now control 100% of the project with the following increased ownership positions: Suncor - 48% ; Cenovus - 34% ; and Murphy [...]
Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars , and have been prepared in accordance with International Financial Reporting Standards , specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working-interest basis, before royalties, except for production [...]
Suncor Energy's Board of Directors has approved a quarterly dividend of $0.21 per share on its common shares, payable September 24, 2021 to shareholders of record at the close of business on September 3, 2021. Suncor Energy is Canada's leading integrated energy company, with a global team of over 30,000 people. Suncor's operations include oil sands development, production and upgrading, offshore oil and gas, petroleum [...]
Suncor will release its second quarter financial results on July 28, 2021 before 8:00 p.m. MT . A webcast to review the second quarter will be held on July 29 at 7:30 a.m. MT . Representing management will be Mark Little, president and chief executive officer and Alister Cowan, chief financial officer. A question and answer period with analysts will follow brief remarks from management. Trevor Bell, vice president [...]
Continuing more than 25 years of sustainability reporting, Suncor released its 2021 Report on Sustainability and Climate Report today. The reports share the company's 2020 environmental, social and governance performance and highlight key points of progress in early 2021. Earlier this year, the company shared its updated strategy which focuses on increasing shareholder returns while accelerating its greenhouse gas [...]
Suncor today advised that the co-owners of the Terra Nova Floating, Production, Storage and Offloading facility and associated Terra Nova Field have reached an agreement in principle to restructure the project ownership and provide short-term funding towards continuing the development of the Asset Life Extension Project, with the intent to move to a sanction decision in the Fall. A subset of owners will increase their [...]
In alignment with its Purpose to provide trusted energy that enhances people's lives while caring for each other and the earth, Suncor today will share its updated strategy focused on increasing shareholder returns and accelerating its progress in reducing GHG emissions with an objective to be net-zero by 2050. The strategy is underpinned by Suncor's principles of operational excellence and capital discipline. Suncor will [...]
Suncor will host an Investor Day online at 8:00 a.m. MT on May 26, 2021. During the presentation, Suncor will share its medium-term corporate outlook, provide an update on the progress to date of its $2B of free funds flow generation as well as discuss other strategic objectives. Participants will need access to the internet for the full duration of the meeting. The event will consist of a two-hour presentation, followed [...]
Our ATCO/Suncor decision to collaborate on this potential project follows welcome messages of support from both the Government of Canada and the Government of Alberta for emission-reduction projects and infrastructure. Such collaboration between governments and business and across sectors will be critical to progressing this project and achieving Canada's net zero by 2050 goals. Project would produce more than 300,000 [...]
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