CEO Patrick Pouyanne said the company’s priority was "value over volume", adding that oil sands were among the high breakeven projects in Total's portfolio.
Suncor Energy Mining News
The Lewis project would be located about 25 km northeast of Fort McMurray and could eventually produce up to 160,000 barrels a day.
Over the weekend, Syncrude completed the necessary repairs and start-up activities to begin shipping product by pipeline.
Pipeline shipments would restart at approximately 50% of capacity in early May.
The Frontier project is located 110 kilometres north of Fort McMurray, in Alberta, around 40 kilometres from the Fort McKay First Nation's reserve.
Suncor Energy, the largest partner in Syncrude, said it expects to meet its 2017 production targets despite a fire that shut down the Mildred Lake upgrader almost two weeks ago.
Suncor Energy’s plan to clean up tailings in some of its oil sands operations using water capping, also known as an end-pit lake, have hit a snag as the Alberta Energy Regulator rejected the proposal saying the firm’s plan lacked evidence the strategies would work.
The firm, North America's No.1 producer of coking coal, benefitted from the price rally — steelmaking coal climbed 155.5% to $207 in the quarter.
Cost per barrel, however, will remain at about $84,000 per flowing barrel of bitumen.
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.
The largest Canadian oil sands producer confirmed last week it has embarked on a one-year pilot project involving the use of six 400-tonne Komatsu autonomous haulers in an isolated part of Suncor's mine site in northern Alberta.
Suncor experienced a 50% reduction in incidents and a 3.5% productivity increase by training trucks operators using both computer-based and hands-on tools.
Sale includes PCLI's production and manufacturing centre in Mississauga, Ontario and the global marketing and distribution assets held by PCLI including its global offices.
Suncor and Mikisew Cree First Nation today announced the signing of a participation agreement for the purchase by MCFN of a 14.7% interest in Suncor's East Tank Farm Development.
The charge is related to the first exploration well of its joint venture in the Shelburne basin, south of Nova Scotia.
Suncor Energy and Fort McKay First Nation announce agreement for equity partnership in East Tank Farm Developments
Under the terms of the agreement, Fort McKay First Nation will pay 34.3% of the actual capital cost of the East Tank Farm Development once the assets become operational, which is currently anticipated to be in the second quarter of 2017.
Companies responsible for the majority of fossil fuel products that have been manufactured, marketed, and sold since the industrial revolution and have contributed the lion’s share of cumulative global emissions of industrial CO2 and methane, have been ordered to respond to a legal petition that triggered the first-ever national human rights investigation concerning climate change.
Suncor Energy (TSX, NYSE:SU) on Sunday announced the "safe and staged restart" of its oilsands operations after an approaching wildfire forced the company to abandon its camps north of Fort McMurray.
Oil companies are reducing production to allow families to evacuate.
Edmonton-based group aims to re-train 1,000 jobless workers into solar panel installers by 2018.
The company has named Sandy Martin as its new chief executive officer.
The Canadian oil giant lowered capital spending plan to between $6bn and $6.5bn from a November estimate of $6.7bn to $7.3bn.
After months of hostile rhetoric, the two Calgary-based companies have reached a takeover agreement.
Cenovus and Suncor fund cleantech entrepreneurs to accelerate environmental and economic solutions
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.