Suncor will buy the 31.23-per-cent interest held by TotalEnergies EP Canada in the Fort Hills oil sands mining project to get its total ownership to 100 per cent
Suncor will buy the 31.23% interest held by TotalEnergies EP Canada in the Fort Hills oil sands mining project in northern Alberta, its total ownership to 100%.
Calgary-based Suncor has been weighing options for replacing around 200,000 barrels per day of raw bitumen supply from Base Mine, its largest oil sands mine, which is set to run out by the mid-2030s. The TotalEnergies acquisition will add 61,000 bpd of bitumen production capacity and 675 million barrels of proven and probable reserves to Suncor’s existing oil sands portfolio.
However, ConocoPhillips, which operates Surmont, exercised its right of first refusal to buy TotalEnergies’ stake instead of Suncor, triggering a review of Suncor’s entire deal.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
French energy company Total closes $4B deal, fully exiting Canadian oilsandsThe logo of TotalEnergies is seen at the company's headquarters in the La Defense business district near Paris. The French energy giant announced today it has sold its last assets in the Alberta oilsands.
Read more »
India invites France’s TotalEnergies to bid for oil exploration rights in the countryIndia buys more than 84% of the oil it needs from overseas and is seeking to quickly develop its hydrocarbon reserves to reduce import dependence
Read more »
Canadian defender Kamal Miller signs contract extension with Inter MiamiFORT LAUDERDALE, Fla. — Canadian international defender Kamal Miller has signed a contract extension with Inter Miami CF through the 2026 MLS season, with an option for 2027.
Read more »
Canadian defender Kamal Miller signs contract extension with Inter MiamiFORT LAUDERDALE, Fla. — Canadian international defender Kamal Miller has signed a contract extension with Inter Miami CF through the 2026 MLS season, with an option for 2027.
Read more »
Canadian defender Kamal Miller signs contract extension with Inter MiamiFORT LAUDERDALE, Fla. — Canadian international defender Kamal Miller has signed a contract extension with Inter Miami CF through the 2026 MLS season, with an option for 2027.
Read more »