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.
Suncor Energy Mining News
The company, Canada’s largest pipeline operator, reported a loss in the third quarter driven by both delays in completing its Line 9 project and one-time charges.
The company said Suncor Energy’s hostile takeover offer was "undervalued, opportunistic and exploitive."
"Disappointed but not surprised"
The project is expected to boost output in northern Alberta by 180,000 barrels a day, with production set to begin by the fourth quarter of 2017.
And oil prices keep falling — they have kicked off the week in the red, with U.S. prices trading below $48 a barrel.
Instead of high-pressure steam, Canada's largest oil and gas producer wants to send radio waves down to heat the bitumen.
The planned optimization include the Athabasca Twin and the Wood Buffalo extension projects.
Construction work to begin later this month.
The decision means 150 jobs will be cut by the end of the year.
"We know the manner in which she died has led to a focus on her death, but we would like to share some insight into Lorna's life and her spirit."
Suncor said it is working with the RCMP and Alberta Occupational Health and Safety to complete a full investigation into the incident.
Panel rules the program would be an unreasonable invasion of privacy.
The energy giant also reduced its 2014 output targets due to halted operations in Libya.
Lower sales, lower prices, lower production.
Suncor and authorities are investigating.
The Wood Buffalo Environmental Association has barely enough to keep running until the end of January.
Perhaps looking to take advantage of Buffett's loyal following, oil sands junior Strata Oil & Gas, released a statement on Thursday to spread the word about Buffett's Exxon buy.
Canada's oil giant Suncor Energy has allocated $7.8 billion for capital spending in 2014.
The deal is the latest step in Qatar Petroleum's response to the North American shale gas boom.
Suncor Energy and Canadian Natural Resources could be targets for activist investors, Barron said.
Canada’s oil sands giant Suncor Energy (TSX, NYSE:SU) has lost an appeal of a temporary injunction that halts the start of random drug and alcohol testing on its employees.
Billions of dollars in joint venture projects with partner Total E&P Canada will be delayed, said Suncor Energy’s new chief executive Steve Williams on Wednesday, as both companies are analyzing alternatives to improve their profitability.
If Rick George was company builder at oilsands pioneer Suncor Energy Inc., Steve Williams has been the operator and is now executor of a growth plan put into place long before the official handing over of Suncor's reins Tuesday.