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Acquisition of TotalEnergies' stake in the Fort Hills oil sands: Suncor Energy continues discussions

16/08/2023
Source : ORISHAS FINANCE
Categories: Companies

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Dans l' intention d' acheter sa participation de près d' un tiers dans la mine de sables bitumineux de Fort Hills, Suncor's CEO said on Tuesday, August 15, last year that the Canadian company Suncor Energy continue its discussions with the French oil major TotalEnergies

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Canada's second-largest oil producer is looking to increase bitumen supplies to replace its aging base mine. Indeed, the Canadian company agreed in April to buy Total's Canadian operations for 5.5 billion Canadian dollars ($4.08 billion), including Total's interest in Fort Hills and its 50% stake in the Surmont facility. According to CEO Rich Kruger, Suncor also had internal options to increase its bitumen supply over the long term. He said he expected the negotiations to be successful this year

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