Suncor Energy

  1. Pages using duplicate arguments in template calls
  2. Pages with broken file links
  3. Oil companies of Canada
  4. Industry Directory
  5. Bituminous sands of Canada


Suncor Energy Inc.
Type Public (TSX: SU, NYSE: SU)
Industry Oil and gasoline
Founded Montreal, Quebec in 1919
Headquarters Calgary, Alberta
Key people John T. Ferguson, Chairman of the Board, Richard L. George, CEO
Products Energy
Revenue Increase $25.5 billion CAN (2009)
Net income Increase $1.1 billion CAN (2009)
Total assets $66.115 billion (2009)[1]
Total equity $50.8138 billion (2009)[1]
Employees 12,978 (2009)[2]
Website www.suncor.com

Suncor Energy Inc. (TSX: SU, NYSE: SU) is a Canadian integrated energy company based in Calgary, Alberta. It specializes in production of synthetic crude from oil sands. Suncor ranks number 159 in the Forbes Global 2000 list.[3] The Company explores for, acquires, develops, produces and markets crude oil and natural gas in Canada and internationally, and it transports and refines crude oil and market petroleum and petrochemical products primarily in Canada. It is focused on developing petroleum resource basins, which includes Canada's Athabasca oil sands. The Company also markets third-party petroleum products. It also carries on energy trading activities focused principally on marketing and trading of crude oil, natural gas, refined products and byproducts, and the use of financial derivatives. Suncor operates in business units, which include Oil Sands, Natural Gas, International and Offshore, and Refining and Marketing.

Until 2010, Suncor marketed products and services to retail customers in Ontario through a downstream network of 280 Sunoco-branded retail sites, and 200 customer-operated retail and diesel sites. Following the acquisition of Petro-Canada, Suncor decided to phase out the Ontario-only Sunoco brand in favour of converting their Sunoco sites to Petro-Canada sites. This was done in order to unify all of their downstream retail operations under the Petro-Canada banner throughout Canada, as well as to discontinue paying licensing fees for the Sunoco brand from Sunoco Inc. in the United States. Nationwide, Petro-Canada's upstream product supplier and parent company would be Suncor Energy. Suncor also markets through a retail network of Phillips 66-branded outlets in Colorado.

History

Suncor was founded in 1919 in Montreal as Sun Company of Canada, a subsidiary of Sun Oil (now Sunoco). Sun merged its Canadian interests, including Great Canadian Oil Sands (the developer of Canada's Athabasca oil sands) to form Suncor in the 1970s. In 1981, the Government of Ontario purchased a 25% stake in Suncor before divesting in 1993. In the mid-1990s Sun Oil, now Sunoco, Inc. also divested its interest in Suncor, although Suncor maintains the Sunoco retail brand in Canada. Suncor is now an independent, widely-held company.

On March 23, 2009, Suncor announced the acquisition of Petro-Canada.[4] This merger created a company with a combined market capitalization of C$43.3 billion. On 4 June 2009, a 98% approval rate was reached by Suncor's shareholders for the acquisition of Petro-Canada and the competition bureau approved the merger on June 21, 2009.[5][6] The merger with Canada's 11th largest company was completed on August 1, 2009 [7] in a 21 billion dollar deal to form the second largest company in Canada.[8]

Development Operations

In North America, Suncor develops and produces oil and natural gas in Western Canada, Colorado, and offshore drilling in eastern Canada. Its international efforts include offshore developments in the North Sea, and conventional, land-based efforts in Libya, Syria and Trinidad and Tobago. Suncor operates refineries in Edmonton, AB; Sarnia, ON; Montreal, QC and Commerce City, Colorado. These refineries supply industrial, retail and commercial consumers.

Suncor owns and operates an oil sands upgrading plant near Fort McMurray, Alberta, Canada. Originally owned by Great Canadian Oilsands, a subsidiary of Sun Oil, it is now wholly owned by the independent Suncor. It was the first large commercial development on the Athabasca Oil Sands, although small, earlier projects like that at Bitumount also played a role in development.

Suncor also operates four wind farms. These provide 147 megawatts of power per year, a CO2 offset of 284,000 tonnes compared to coal-generated electricity. Suncor's ethanol facility in St. Clair, ON currently produces 200 million litres of ethanol per year. This ethanol is blended into retail gasoline products sold at Sunoco and some Petro-Canada service stations.

Retail Operations

Sunoco logo.
Petro-Canada is the brand identity of Suncor's service stations throughout Canada.

In December 2009, Husky Energy Inc. announced that it had entered into an agreement with Suncor Energy Inc. and Suncor Energy Products Inc. to purchase 98 retail outlets in the Ontario market.[9] These gas station will be converted from Sunoco to Husky brand.

Suncor operates retail fuel operations under the brand names of Sunoco exclusively in Ontario. With the merger of Petro-Canada and Suncor Energy on August 1, 2009, Suncor now sells its products under the Petro-Canada name across Canada. Suncor has also converted many Sunoco-branded gas stations to Petro-Canada stations. As of 2011, the Sunoco.ca web site indicates there is one Sunoco branded station left located on Ottawa, Ontario.

In the United States, it operates retail outlets in Colorado as Shell and Phillips 66, under licence from Shell Oil Company (the U.S. subsidiary of Royal Dutch Shell) and ConocoPhillips, respectively.[10]

Environmental record

According to a Pollution Watch fact sheet, in 2007 Suncor Energy's oil sands operations had the sixth highest greenhouse gas emissions in Canada.[11][12] While Suncor has reduced the greenhouse gas emissions intensity of its oil sands operations by more than 50% since 1990, total greenhouse gas emissions from the company's operations have increased because of growing oil sands production.

On April 2, 2009, Suncor was fined $675,000 for failing to install pollution control equipment at its Firebag operation near Fort McMurray, Alberta in July 2006. On the same day, Suncor was fined $175,000[13] for dumping untreated wastewater from a company work camp near Fort McMurray into the Athabasca River in 2007.[14][15]

Suncor is working to reduce the amount of bitumen entering tailings ponds. Under the auspices of the Natural Sciences and Engineering Research Council of Canada (NSERC), Suncor has teamed with the University of Alberta and Matrikon, an Edmonton-based software company, to develop new separation-cell technology that could reduce the amount of bitumen entering tailings ponds by 50 per cent.[16]

Community involvement and awards

In 2007, Suncor Energy was named one of Canada's Top 100 Employers, as published in Maclean's magazine, the largest oilsands development firm to receive this honour.[17]

In October 2008, Suncor was named one of "Canada's Top 100 Employers" by Mediacorp Canada Inc., and was featured in Maclean's newsmagazine. Later that month, Suncor was also named one of Alberta's Top Employers, which was announced by the Calgary Herald[18] and the Edmonton Journal.[19][20]

See also

References

  1. ↑ 1.0 1.1 "global 500". 2009-12-31. http://media.ft.com/cms/66ce3362-68b9-11df-96f1-00144feab49a.pdf.
  2. ↑ "Company Profile for Suncor Energy Inc (SU)". http://zenobank.com/index.php?symbol=SU&page=quotesearch. Retrieved 2010-05-19.
  3. ↑ "SU - Suncor Energy - Stock Quote Analysis At A Glance - Forbes.com". Finapps.forbes.com. 2011-02-23. http://finapps.forbes.com/finapps/jsp/finance/compinfo/CIAtAGlance.jsp?sedol=B3NB1P2. Retrieved 2011-03-10.
  4. ↑ "Canoe.ca, "Suncor, Petro-Canada merge”, March 23, 2009". http://money.canoe.ca/News/Other/2009/03/22/8847781-cp.html.
  5. ↑ {{cite web|url=http://ctv2.theglobeandmail.com/servlet/story/RTGAM.20090604.wpetrocan0604/business/Business/businessBN/ctv-business%7Ctitle=CTV.ca, "Suncor shareholders add support to Petrocan deal", 4 June 2009}}
  6. ↑ {{cite web|url=http://www.petro-canada.ca/en/media/1886.aspx?id=1020094, "Competition Bureau approves merger", 4 June 2009}}
  7. ↑ "suncor, petro canada complete merger". bizjournals. 2009-08-06. http://www.bizjournals.com/denver/stories/2009/08/03/daily65.html. Retrieved 2009-08-11.
  8. ↑ "A united Petro-Canada and Suncor: Canada's second-biggest company, after the Royal Bank of Canada?". national post. 2009-03-23. http://network.nationalpost.com/np/blogs/fpmagazinedaily/archive/2009/03/23/a-united-petro-canada-and-suncor-canada-s-second-biggest-company.aspx. Retrieved 2009-08-11.
  9. ↑ "Husky Energy Announces Expansion of Retail Network". Huskyenergy.com. 2009-12-10. http://www.huskyenergy.com/news/newsrelease.asp?ID=251. Retrieved 2011-03-10.
  10. ↑ "Shell and Phillips 66". Suncor. 2010-06-01. http://www.suncor.com/default.aspx?cid=75&lang=1. Retrieved 2011-03-10.
  11. ↑ "Becoming No. 1: Suncor's story". CBC News. March 23, 2009. http://www.cbc.ca/money/story/2009/03/23/f-suncor-faq.html.
  12. ↑ http://www.pollutionwatch.org/pressroom/factSheetData/GHGFactSheetEng.pdf
  13. ↑ "Suncor fined $850,000 for environmental violations". CBC News. April 2, 2009. http://www.cbc.ca/canada/calgary/story/2009/04/02/edm-suncor-fined.html.
  14. ↑ "Suncor fined twice in one day". Calgaryherald.com. 2009-04-02. http://www.calgaryherald.com/business/fp/Suncor+fined+twice/1457244/story.html. Retrieved 2011-03-10.
  15. ↑ Feature story - March 10, 2009 (2009-03-10). "Ninety charges against Suncor surface a year later | Greenpeace Canada". Greenpeace.org. http://www.greenpeace.org/canada/en/campaigns/suncor-charges. Retrieved 2011-03-10.
  16. ↑ "Edmonton Journal, "Why be shy about green success story?”, May 2, 2009". http://www.edmontonjournal.com/opinion/about+green+success+story/1557087/story.html.
  17. ↑ "Reasons for Selection, 2007 Canada's Top 100 Employers". http://www.eluta.ca/einfo?en=Suncor+Energy+Inc.&ri=e40282f3eda5073ed866223cecf75b6f&rk=06f42e5b920c614397cf38b2a8ea0414.
  18. ↑ "Calgary Herald, "Alberta’s top 40 places to work”, October 18, 2008". http://www.canada.com/calgaryherald/story.html?id=02b19397-2fdf-4039-ba29-b93eaf908adb.
  19. ↑ "Edmonton Journal, "Alberta's best focus on attracting, keeping staff", October 31, 2008". http://www.canada.com/edmontonjournal/story.html?id=5bc8514a-b0eb-4538-bab4-a63f11f51a16.
  20. ↑ "Reasons for Selection, 2009 Canada's Top 100 Employers Competition". http://www.eluta.ca/top-employer-suncor.

External links



...