Suncor Energy Inc T.SU

Alternate Symbol(s): SU

Energy Oil & Gas Integrated

Suncor Energy Inc. is a Canada-based integrated energy company. The Company's segments include Oil Sands, Exploration and Production (E&P), and Refining and Marketing. Its operations include oil sands development, production and upgrading; offshore oil production; petroleum refining in Canada and the United States; and the Company’s Petro-Canada retail and wholesale distribution networks (including Canada’s Electric Highway, a coast-to-coast network of fast-charging electric vehicle (EV) stations). The Company is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower-emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. The Company also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. It also wholly owns the Fort Hills Project, which is located in Alberta's Athabasca region.

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Suncor Energy Inc > XOM removes 98% of its Cdn tar sands from it's reserves

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Comment by OILSPECTATORon Feb 28, 2021 2:03pm

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Post# 32681872

RE:XOM removes 98% of its Cdn tar sands from it's reserves

As reflected in the XOM stock price close Friday, the market took the news as immaterial:

"The reserves accounting doesn’t mean Exxon is closing up shop or walking away from Canada because the company can bring them back onto its ledger as crude prices rise."

In the short term, a huge tax savings, in the long term, their oil sands properties are estimated to have 7 billion barrels in the ground! Oh my...

Read the FULL story on WorldOil.com

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