syncrude Mining News

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.

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."

No injuries reported from explosion at Syncrude

The blast happened early Saturday morning at the Mildred Lake site.

Oil sands air monitoring agency running on emergency fund

The Wood Buffalo Environmental Association has barely enough to keep running until the end of January.

Canadian Oil Sands sees continued volatility in light oil pricing

Growing North American light oil production is expected to cause crude from the Syncrude oilsands mine to fetch a discounted price, says Canadian Oil Sands Ltd., the largest partner in the massive development.

The Challenges and Potential of Canada’s Oil Sands

Once considered too expensive and damaging to the land, exploitation of Canada’s oil sands is now a venture worth billions. The country has proven oil reserves of more than 170 billion barrels—second only to those in Saudi Arabia. Much […]