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Tag Archives: suncor energy

Suncor Energy Deploys First Autonomous Haul Trucks in the Oil Sands

Suncor announced it will proceed with the phased implementation of autonomous haulage systems (AHS) at company-operated mines, starting with the North Steepbank mine. Over the next six years, the company expects to deploy more than 150 autonomous haul trucks in the full program, which will be one of the largest investments in electric autonomous vehicles in the world. Following thorough ...

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TransCanada to cut more management jobs

CALGARY, Alberta – Pipeline company TransCanada Corp has announced new job cuts, eliminating about 20 percent of its directors as slumping oil prices continue to take their toll on its customers, a spokesman said on Wednesday. The company, which is proposing the Keystone XL and Energy East pipeline projects, said the latest cuts affect about 30 directors. This follows an ...

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Canadian Oil Sands rejects Suncor hostile takeover offer

Canadian Oil Sands Ltd asked its shareholders on Monday to reject a hostile takeover offer by Suncor Energy Inc, saying it was weak and substantially undervalued the company’s ownership in Syncrude. Canadian Oil Sands, which has a 37 percent stake in Syncrude, is the largest shareholder in the country’s biggest synthetic crude project. Suncor has a 12 percent interest. Suncor ...

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Suncor launches hostile bid for Canadian Oil Sands

Suncor Energy Inc launched a hostile bid for Canadian Oil Sands Ltd on Monday as the slump in oil prices encourages consolidation in Canada’s oil sands industry, which has some of the world’s highest operating costs and lowest prices. Canadian Oil Sands and Suncor are among stakeholders in Canada’s largest synthetic crude project, Syncrude, in northern Alberta. Alberta’s oil sands ...

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Statoil, Newfoundland near deal on offshore oil drilling project

Norway’s Statoil ASA is “weeks away” from reaching a deal with the government of Newfoundland and Labrador to develop the company’s 600 million-barrel Bay du Nord oil discovery off the Canadian province’s Atlantic coast, the province’s premier said on Tuesday. Newfoundland Premier Paul Davis said the province was close to terms with Norway’s largest oil company to develop the field ...

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Husky Energy names new CFO

Alberta, Canada-based Husky Energy appointed Jonathan McKenzie as its new Chief Financial Officer, according to an announcement yesterday. A Bachelor of Commerce and Bachelor of Arts grad from the University of Alberta, McKenzie is no stranger to Canada’s oil and gas industry. As a chartered accountant, McKenzie will be in charge of the company’s financial division, which includes accounting, treasury, ...

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Canada’s oil sands cash flows to fall by $21 billion in 2 years

CALGARY, Alberta – Oil sands cash flows will fall by $21 billion in the next two years, energy consultancy Wood Mackenzie said in a report on Tuesday, as low global petroleum prices make it less economical to extract bitumen from northern Alberta. Canada’s oil sands hold the world’s third-largest proven crude reserves after Saudi Arabia and Venezuela, but operating costs ...

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