Suncor 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 giant testing autonomous haul trucks

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.

Here’s how Suncor increased productivity, cut incidents with blended training

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.

Suncor Energy sells Petro-Canada Lubricants business for $1.125 billion

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 MCFN announce agreement for equity partnership in East Tank Farm Development

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.

Suncor to take $80 million hit after Nova Scotia project found non-commercial

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.

HP, Glencore, Syncrude linked to human right abuses from climate change

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 restarts operations after wildfire evacuation

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 offer assistance to residents affected by Fort McMurray fires

Oil companies are reducing production to allow families to evacuate.

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.

Evok Innovations announces $100M cleantech fund for energy industry challenges

Cenovus and Suncor fund cleantech entrepreneurs to accelerate environmental and economic solutions

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.

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"