Oil and Gas 360 Calgary, Alberta – Suncor (TSX: SU) (NYSE: SU) today announced that it has entered into an agreement with Elliott Investment Management L.P. (together with its affiliates “Elliott”), pursuant to which Suncor’s Board of Directors will appoint three new independent directors, two of whom will serve on the CEO search committee. The Board will also form a new committee
World Oil (Bloomberg) — Suncor Energy Inc.’s chief executive officer stepped down on Friday after a series of fatalities at the company’s oil sands sites shook confidence in its management. Mark Little agreed to leave as president and CEO and resign from the board of directors “effective immediately,” the company said in a release. Kris Smith, executive vice president for
Yahoo Canadian oil and gas producer Suncor Energy, which is under pressure from an activist investor firm, on Tuesday said it is making progress on safety and operational improvements after posting stronger-than-expected first-quarter results. Elliott Management last month publicly called for new board directors, a management overhaul and a strategic review at Suncor, arguing its shares have lagged oil and
Yahoo Finance CALGARY, Alberta – Canada is favouring oil projects with lower carbon emissions per barrel to help meet its climate targets, a strategy that may block Suncor Energy’s plan to expand bitumen mining to feed its key oil sands operations. On April 6, Canadian environment minister Steven Guilbeault warned Suncor in a letter that its proposed 225,000 barrel per
Reuters Canada’s Suncor Energy (SU.TO) will partner with utility ATCO Ltd (ACOx.TO) to develop a clean hydrogen project near Fort Saskatchewan, Alberta, in one of the most significant steps taken by an oil sands producer to cut greenhouse gas emissions. Canada’s cash-rich oil sands firms are facing mounting pressure to spend on transitioning towards cleaner energy at a time when Prime Minister Justin Trudeau
Oil and Gas 360 ESG Takes Center Stage at The EnerCom Dallas Energy Investment & ESG Conference April 6-7 Editor’s Note: Suncor Energy (NYSE: SU) is Canada’s leading integrated energy company working together with stakeholders to responsibly supply the energy needs of today and working toward sustainable solution for the future. Suncor Energy will be presenting at The EnerCom Dallas
Reuters The oil regulator for the Atlantic Canadian province of Newfoundland and Labrador has ordered Suncor Energy’s (SU.TO) offshore Terra Nova site to shut down, finding the company’s fire water pump system was non-compliant. Terra Nova, operating in the Atlantic Ocean 350 kilometers (217 miles) east of St. John’s, failed to maintain and inspect critical safety equipment, carry out timely
Suncor Energy announces Lorraine Mitchelmore to join Board of Directors Suncor today announced the appointment of Lorraine Mitchelmore to the company’s board of directors. Ms. Mitchelmore’s appointment is effective Nov. 6, 2019. “I’m delighted that Lorraine is joining Suncor’s board of directors,” said Suncor board chair, Michael Wilson. “Lorraine brings over 30 years of international oil and gas industry experience.
From Reuters Major Canadian oil companies, which publicly disagreed over the Alberta government’s forced curtailments this year, are in lockstep over how to end the production limits and reinvigorate the battered industry. Senior executives from Suncor Energy, Canadian Natural Resources, Imperial Oil Ltd and Cenovus Energy said at a TD Securities investor conference in Calgary on Tuesday that they are
From Reuters The outgoing chief executive of Canada’s Suncor Energy on Thursday urged the new Alberta government to find a way out of mandatory oil production curtailments that were imposed this year to help boost crude prices. The CEO, Steve Williams, also put Canada’s failure to build new export pipelines that would ship more crude out of landlocked Alberta squarely
From Reuters Canada’s mandated oil production cuts are preventing Suncor Energy Inc, one of Canada’s biggest oil producers, from sending its heavy crude to the U.S. Gulf Coast by rail, a company official said in an interview on Tuesday. The Canadian oil producer is “interested in rail economics going forward,” but the rise in Canadian heavy crude prices since the
From Reuters Berkshire Hathaway Inc’s re-investment in Suncor Energy Inc highlights the benefits of being an integrated oil company and could revive investor interest in the languishing Canadian energy sector, fund managers said. The move is also seen by some as a wager the energy sector could benefit from a change in the guard in Canada’s oil-rich Alberta province, which
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