Suncor Energy – Page 3 – Oil & Gas 360

Berkshire Wades Into Struggling Canada Oil Patch With Suncor Bet

February 15, 2019

From Bloomberg Warren Buffett’s Berkshire Hathaway Inc. is wading into the struggling Canadian energy industry, taking a stake in oil-sands producer Suncor Energy Inc. The purchase of 10.8 million shares, disclosed in a filing Thursday, was valued at $300.9 million. That marks at least the second time the Omaha-based firm has owned Suncor’s stock; Berkshire previously held a 22.3 million-share stake, which it sold in 2016.

Alberta’s Mandatory Curtailments Manufacture Some Problems — Suncor Sets 2019 Spend in $5 Billion Range

December 14, 2018

Suncor said its 2019 upstream capital program is going to be $4.9 billion to $5.6 billion to achieve average upstream production of 780,000 to 820,000 barrels of oil equivalent per day (BOEPD) for 2019. The midpoints of these ranges represent a flat capital spend compared to 2018 and a year over year production increase of approximately 10%, including estimated mandatory

Suncor Responds to Government of Alberta’s Decision to Cut Oil Production

December 4, 2018

Suncor Energy provides update following Government of Alberta’s decision to cut oil production

Suncor CEO to Retire, New Chief Executive Named

November 14, 2018

Suncor announces Steve Williams’ retirement and transition plan

Suncor Energy Not Trimming Oil Output as Rivals Pull Back

November 2, 2018

From Reuters Suncor Energy Inc, Canada’s second-largest energy producer, does not need to reduce crude output as some of its peers are doing to cope with low prices, Chief Executive Steve Williams said on Thursday. Suncor, which has dedicated pipeline space for its crude as well as refineries in Canada, is mostly insulated from the impact of growing price discounts

Canadian Natural Resources, Suncor, Cenovus Face Cutting Oil Output During Transport Crunch

May 3, 2018

From Reuters/Globe and Mail Canadian Natural Resources Ltd (CNRL) , one of Canada’s biggest oil and gas producers, will produce less than expected this spring, it said on Thursday, as transport bottlenecks pressure prices of Canadian heavy crude. Tight capacity on pipelines and rail lines from the province of Alberta early this year led to the biggest discount in four

Suncor Energy Switches on Production at Fort Hills

January 29, 2018

Adds 194,000 barrel capacity Suncor Energy Inc. (ticker: SU) will steadily ramp up its Fort Hills production following the safe startup of secondary extraction on January 27, 2018. Fort Hills, which is located 90 kilometers north of Fort McMurray, has a capacity of approximately 194,000 BOPD, of which 103,000 BOPD is net to Suncor. As planned, the first of three

Suncor Energy: 2017 Production Update

January 4, 2018

Suncor Energy Inc. (ticker: SU) released end-of-year production numbers and provided an update to the Fort Hills dispute. Highlights Upstream production of 736,000 BOEPD Oil sands produced 447,000 bbls/d, including 6,000 bbls/d from Fort Hills Syncrude produced 325,000 bbls/d for the quarter, 174,000 bbls/d net to Suncor International E&P production of 115,000 BOEPD Bitumen upgrader operations ran at utilization rates

ExxonMobil Starts Production Offshore Newfoundland/Labrador

November 28, 2017

Hebron field project expected to produce 150 MBOPD at peak Project expects to produce up to 150,000 barrels of oil per day at peak Project had more than 40 million hours without a lost-time injury Project completed ahead of schedule Exxon Mobil Corporation (ticker: XOM) announced today that the Hebron project safely started production. The project was revealed in a

First Nations Complete Purchase of 49% Interest in Suncor’s East Tank Farm Development

November 22, 2017

Suncor Energy Inc. (NYSE: SU), Fort McKay First Nation (FMFN), and Mikisew Cree First Nation (MCFN) announced today the completion of the acquisition by FMFN and MCFN of a 49% partnership in Suncor’s East Tank Farm Development for total proceeds of $503 million. Fort McKay First Nation is composed of over 800 band members with approximately 400 members residing in

Suncor Energy Snags 30% of North Sea Rosebank Project

August 10, 2016

Suncor Energy UK Limited announced it will acquire a 30 per cent participating interest in the U.K. North Sea Rosebank project from OMV (U.K.) Limited. Under the terms of the agreement, Suncor will make an initial payment of US$50 million on closing. The transaction is subject to conditions, including regulatory approval, and is anticipated to close in the fourth quarter

Suncor Energy Provides RMWB Operations Update

May 24, 2016

CALGARY, ALBERTA–(Marketwired – May 23, 2016) – Suncor today announced it has begun the remobilization process of its employees to support the staged restart of its operations in the Regional Municipality of Wood Buffalo (RMWB). The evacuation order was lifted by the Regional Emergency Operations Centre the evening of May 20, 2016. In addition, Suncor continues to assess the situation,

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