Suncor Energy Company News
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Canadian Oil's High-Priced Run Set to End as Supply Surges
Wednesday, October 11, 2017 Canadian oil-sands producers enjoying the strongest market for heavy crude since 2008 will soon face a renewed glut.
Suncor, Total Argue Over Cost Of Fort Hills Project
Thursday, July 27, 2017 Suncor Energy is in a dispute with Total after the French company said it would not provide any more funding for the Fort Hills oil sands project in northern Alberta.
Synthetic Crude Rises On Extended Syncrude Oil Sands Cuts
Wednesday, June 14, 2017 The price of oil sands synthetic crude strengthened after the majority owner in the Syncrude oil sands project in northern Alberta said maintenance on the facility had been extended.
Canada's Suncor Prepares Oil Sands Growth as Global Majors Exit
Thursday, May 11, 2017 Even as the world's largest energy companies exit Canada's high-cost oil sands the country's top producer Suncor Energy is lining up its next phase of growth in the world's third largest crude reserves.
Suncor to Apply to Build New Oil Sands Project in Northern Alberta
Monday, May 08, 2017 Suncor said it has not yet formally sanctioned the project, but if it goes ahead, construction could begin in 2024, with first steam being pumped into the reservoir to liquefy and extract tarry bitumen in 2027.
Cenovus Drops Most Ever as $13.3 Billion Deal Ramps Up Risks
Thursday, March 30, 2017 Cenovus Energy fell the most since its trading debut more than seven years ago after agreeing to buy Canadian oil assets from ConocoPhillips for C$17.7 billion ($13.3 billion) in a deal that increases its risks at a time of uncertain oil prices.
Centrica: Oda Field to see $634M Investment, Will Create 5,500 Jobs
Wednesday, November 30, 2016 Centrica plc, along with its license partners, has pledged to invest $634 million for the development to the Oda field, which it says will generate thousands of jobs over its lifetime.
OMV Agrees To Sell 30% Stake In British Rosebank Field To Suncor
Tuesday, August 09, 2016 OMV has agreed to sell most of its 50% stake in the British Rosebank field to Canada's Suncor Energy.
Falling US Oil Output Not Enticing Enough For Wary Investors
Monday, July 11, 2016 Not even a sharp decline in U.S. oil production can convince investors that oil prices are ready to rebound.
Firefighters Protect Canada's Oil Sands Battling Intense Flames
Tuesday, May 24, 2016 Those sent into Canada's oil sands are not only wrestling with one of the worst wildfires in the country's history. They are doing it surrounded by the volatile, explosive chemicals critical to pumping oil from some of the world's largest reserves.
Canada's Oil Sands Producers Prepare to Re-Enter Evacuated Sites
Monday, May 23, 2016 All of the Canadian oil sands facilities that workers fled last week as a wildfire spread are being allowed to prepare for restart as cool, humid weather has helped contain the inferno.
Canadian Oil Exports Drop, Supply Hunt on Amid Wildfires
Wednesday, May 18, 2016 In a sign the massive Alberta wildfire is taking a toll on oil transport, Canadian crude exports to the United States dropped 12 percent last week.
Canada Oil Sands Producers Disrupted Anew as Wildfire Shifts North
Tuesday, May 17, 2016 Canadian energy producers were hit with fresh disruptions on Tuesday after a massive wildfire burning around the oil sands hub of Fort McMurray, Alberta, shifted north, forcing the evacuation of about 4,000 people from work camps.
Suncor Shuts Oil Sands Mine Again as Alberta Fires Spread
Tuesday, May 17, 2016 Wildfires raging across Alberta shifted back toward oil-sands installations north of Fort McMurray, forcing the evacuation of thousands of workers and prompting Suncor Energy to shut its main mine just as work was resuming.
Oil Drillers Adding Hedges as Crude Closes In on $50 a Barrel
Monday, May 16, 2016 Oil producers are taking advantage of the rebound in crude markets to lock in protection against another slump.
Bulk of Canada's Oil Sands Plants Seen Up in Days to Weeks
Wednesday, May 11, 2016 Canadian oil sands facilities representing more than 90 percent of production taken offline during a wildfire in northern Alberta have emerged unscathed and are expected to restart within days to a couple of weeks.
Canada's Oil Output Spared Fire Damage Seen Able to Rebound
Monday, May 09, 2016 Canada oil-sands producers including Suncor Energy could resume production within a week after the threat subsides from wildfires that cut as much as 40 percent of the region's output.
Oil, Gas Senior Execs Focus on Workforce, Growth and Technology
Wednesday, February 24, 2016 As low oil prices continue, senior executives from oil and gas companies focus on short-term and long-term strategies to stay competitive and grow.
Suncor Cuts Spending After Surprise Loss on Asset Writedowns
Thursday, February 04, 2016 Suncor Energy cuts spending by about 10% this year amid writedowns on the value of Canadian, Libyan and offshore assets.
Suncor Reaches Deal To Buy Canadian Oil Sands With Sweetened Offer
Monday, January 18, 2016 Suncor Energy has reached a deal to acquire rival Canadian Oil Sands by raising its all-stock offer.
Suncor Extends Time, But Not Bid, On Canadian Oil Sands Deal
Monday, January 11, 2016 Suncor Energy extends time for Canadian Oil Sands to consider $2.93 billion acquisition deal, but says it won't increase the offer.
Oil Sands Giant's Hostile Takeover Teeters as Crude Plunges
Thursday, January 07, 2016 Suncor Energy Inc.'s C$4.13 billion ($2.93 billion) takeover of Canadian Oil Sands Ltd. looks far from certain, with the target's share price trading at a record gap to the bid just a day before expiring.
Suncor CEO Has No Plans to Boost Price for Canadian Oil Sands
Tuesday, January 05, 2016 Suncor CEO Steve Williams said he has no plans to sweeten the offer for Canadian Oil Sands and that a majority of shareholders support the bid.
Suncor Says Canadian Oil Bid Extension Highly Improbable
Monday, January 04, 2016 Suncor Energy's top executive said it was "conceivable but highly improbable" that Suncor will extend a hostile takeover bid for Canadian Oil Sands beyond this week's deadline.
Canadian Oil Sands Urges Shareholders to Reject Suncor Bid
Tuesday, December 29, 2015 Canadian Oil Sands' board sent a letter to its shareholders urging them once again to reject the hostile bid by Suncor ahead of the offer's deadline next week.
Suncor Bid for Canadian Oil Sands Pits Promise Against Results
Tuesday, December 22, 2015 As Canadian Oil Sands Ltd. tries to fend off Suncor Energy Inc.'s C$4.5 billion ($3.2 billion) bid, the latest upset at its only business couldn't have come at a worse time.
Suncor Extends Time for Canadian Oil Sands to Mull Offer
Friday, December 04, 2015 Shareholders in hostile takeover target Canadian Oil Sands have another month to consider a multibillion-dollar Suncor offer.
Fight Or Flight: Canadian Oil Companies Weigh Hostile Takeover Bid
Thursday, December 03, 2015 In an unusual hostile takeover attempt, Suncor Energy is making a last ditch effort to absorb its joint venture partner Canadian Oil Sands or move on.
Suncor and Canadian Oil Sands CEOs Both Say They’ve Won
Friday, November 20, 2015 The CEOs of Suncor Energy and Canadian Oil Sands both say they’ve got votes on their side as the nation's top crude producer promotes a hostile takeover bid for its smaller rival.
Canadian Oil Sands Rejects Suncor Hostile Takeover Offer
Monday, October 19, 2015 Canadian Oil Sands asks its shareholders to reject Suncor Energy's offer, saying it "substantially undervalued" the company and was "entirely opportunistic".
Oil Slide Means 'Almost Everything' for Sale as Deals Accelerate
Wednesday, October 14, 2015 More than $200 billion worth of oil and natural gas assets are for sale globally as companies come under renewed financial pressure from the prolonged commodity price rout.
Suncor Makes Unsolicited $3.3 Billion Bid for Canadian Oil
Monday, October 05, 2015 Suncor Energy makes an unsolicited offer to buy Canadian Oil Sands Ltd. for about C$4.3 billion ($3.3 billion), taking advantage of plunging crude prices to seek to add production in Alberta.
Shutdown at North Sea Buzzard Oilfield Likely to be Moved to November
Wednesday, September 23, 2015 A planned shutdown of the UK North Sea's Buzzard oilfield is likely to be rescheduled to November from October, according to an industry source.
Suncor Granted Drilling Permit for North Sea Well
Friday, September 18, 2015 The Norwegian Petroleum Directorate grants Suncor Energy Norge AS a drilling permit for well 25/10-14 S, located in production license 571 in the central North Sea.
Canada Oil Sands Fork Over Billions for 500,000 Unneeded Barrels
Friday, September 04, 2015 The last place oil producers want to be when prices plummet to profit-demolishing lows is midstream on a billion-dollar project in one of the costliest parts of the planet to extract crude.
Premier Oil Comes Up Dry in North Sea Well
Thursday, September 03, 2015 Premier Oil Norge, the operator of production license 539, has come up dry in exploration well 3/7-10 S in the southern section of the North Sea.
Canadian Oil Sands Halts Syncrude Production After Fire, Prices Spike
Monday, August 31, 2015 Canadian Oil Sands Ltd halts crude oil production after a fire damaged equipment at its processing facility in northern Alberta.
Report: Most Canada Oil Sands Crude Being Produced at a Loss
Friday, August 21, 2015 More than three-quarters of Canada's daily output of 2.2 million barrels of crude from oil sands is being produced at a loss at current prices, research from analysts at TD Securities shows, although producers are unlikely to halt operations.
Report: Most Canada Oil Sands Crude Produced At A Loss
Thursday, August 20, 2015 More than three-quarters of Canada's daily output crude from oil sands is produced at a loss at current prices, say analysts at TD Securities.
Suncor Oil Sands Project Aims to Replace Steam with Radio Waves
Tuesday, July 14, 2015 Suncor Energy launches a pilot project to replace the high-pressure steam used to extract bitumen from oil sands with radio frequency technology developed by U.S. defence contractor Harris Corporation.
Trapoil Drills Dry Well in UK North Sea
Thursday, June 25, 2015 Trapoil has come up dry in the Niobe exploration well, located in License P.1889 in the UK North Sea.
Suncor Energy Norge Drills Dry Well in North Sea
Wednesday, June 24, 2015 Suncor Energy comes up dry in the 25/10-13 S exploration well, located in production license 571 in the central part of the North Sea.
Oil-Sands Megaproject Era Wanes as Suncor to Imperial Scale Down
Thursday, June 18, 2015 Canadian oil-sands spending is poised to drop 30% to $19B this year while total oil production will be 17% lower by 2030 compared with last year's estimates.
Trapoil Begins Operations at Niobe Exploration Prospect in UK North Sea
Monday, June 08, 2015 Trapoil commences operations on the Niobe exploration prospect in License P.1889, located in the UK North Sea.
Suncor Cuts Capital Spending, Employees As Oil Prices Plunge
Tuesday, January 13, 2015 Suncor Energy says it will cut about 1,000 employees and contractors and slash capital spending in response to the recent plunge in crude oil prices.
Worker Killed at Suncor Oil Sands Site in Northern Alberta
Tuesday, June 03, 2014 A worker was killed at Suncor Energy Inc's oil sands site in northern Alberta while performing maintenance on a piece of heavy equipment, a company spokeswoman says.
Suncor: Bear Kills Employee at Oil Sands Base Plant
Thursday, May 08, 2014 Suncor Energy reports an employee was the victim of a bear attack at its Oil Sands base plant north of Fort McMurray.
Suncor Employee Killed at Oil Sands Site in Canada
Monday, January 20, 2014 Canada's Suncor Energy Inc says that an employee had died at its Oil Sands site in northern Alberta.
Centrica Spuds Butch East Exploration Well
Monday, December 30, 2013 Centrica begins back-to-back drilling campaign on the Butch license.
Centrica on Track for Strong Upstream Growth
Wednesday, July 31, 2013 Centrica says it is on track to deliver a production increase of almost 20 percent for the whole of 2013.