Canadian Oil Sands Mining News

Suncor Energy sees higher output, lower spending in 2017

Canada’s largest oil and gas company expects production to rise by more than 13% next year and spending to fall by more than $1 billion.

Canadian Oil Sands overhauls leadership and board ahead of Suncor takeover

The company has named Sandy Martin as its new chief executive officer.

Suncor cuts spending by 10% after posting $2bn loss on writedowns

The Canadian oil giant lowered capital spending plan to between $6bn and $6.5bn from a November estimate of $6.7bn to $7.3bn.

Suncor changes strategy to acquire Canadian Oil Sands with $6.6bn friendly deal

After months of hostile rhetoric, the two Calgary-based companies have reached a takeover agreement.

Canadian Oil Sands claims victory over Suncor’s hostile takeover attempt

The company is asking Suncor to disclose details of how shareholders reacted to its bid before last week’s deadline had to be extended until Jan. 27.

What value does Suncor see in Canadian Oil Sands?

Canadian Oil Sands is a weak company that has consistently missed many quarterly targets and is focused on one of the least attractive areas of the oil patch at current prices.

Suncor not ruling out sweetening offer for Canadian Oil Sands

The takeover bid expires on Friday.

Suncor presses Canadian Oil Sands shareholders for a takeover offer nod

“Hope is still not a strategy,” Suncor wrote in a letter to Canadian Oil Sands’ shareholders, stressing there was “little time” left.

Secret deal on Alberta’s oil sands emissions limits divides patch

A hard cap on oilsands emissions was the product of secret negotiations between four top oilsands companies and four environmental organizations.

Canadian Oil Sands to stay in the black even if crude prices keep falling

The company, currently the target of a $4.3 billion takeover bid by Suncor, unveiled a pared-back capital budget that cuts spending by 20% year-over-year to $295 million in 2016.

Canadian Oil Sands granted one more month to fend off Suncor's hostile bid

The poison pill provision must expire by Monday, Jan. 4, 2016.

Suncor cuts oil sands output for 2016

Canada's dominant oil sands player, however, plans to spend about $900 million more next year.

Canadian Oil Sands accuses Suncor of paying brokers to win takeover bid

Suncor, Canada's dominant oil sands player, telling COS shareholders the firm has a record of “underperformance, financial challenges,” and vulnerability to low oil prices.

Regulator to weigh on Suncor attempts to take over Canadian Oil Sands

Suncor steeped up its hostile Cdn$4.3bn bid for COS by asking the Alberta Securities Commission to strike down the target’s rights plan to prevent a takeover.

Canadian Oil Sands asks shareholders to reject Suncor’s $3.3 billion hostile bid

The company said Suncor Energy’s hostile takeover offer was "undervalued, opportunistic and exploitive."

Suncor calls Canadian Oil Sands' poison pill 'inappropriate'

"Disappointed but not surprised"

Suncor launches $4.3 billion bid for Canadian Oil Sands

Canadian Oil Sands has been labouring under low oil prices.

Canadian regulator lets Nexen reopen 40 utility pipelines at Long Lake

The remaining 55 pipelines affected by a suspension order must stay closed until the company can demonstrate they're safe.

Canadian Oil Sands project to operate at ‘minimal’ rates until end of the month

The largest synthetic crude oil processing facility in Canada is slowly recovering from a fire that damaged equipment and communication lines over the weekend.

Fire damages Canadian Syncrude equipment, forces firm to halt production

The incident adds to the firm's mounting challenges, including swinging to a loss, growing debt, unplanned equipment outages and Moody’s Investors Service recent cut of the company's credit rating.

No recession for Alberta, just ‘zero growth’ as oil price nosedives

According to TD's latest report, real GDP growth in Alberta will inch forward by only 0.5% this year before speeding up to 1.8% in 2016.

Oil price debacle likely to drive Alberta into recession: report

According to the Conference Board of Canada, the province faces more than just a slowdown.

EU spares Canadian oil sands the ‘dirty fuel’ label

The vote of the full plenary was prompted earlier this month when the EU's environment committee rejected a deal worked out after more than two years of lobbying by Canada.

Canadian premiers say Energy East pipeline a 'nation-building' exercise

Ontario and Alberta agree the controversial $12bn Energy East pipeline is a “nation-building” exercise and said they'd work together on the issue.