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 > France's Total finally taps out

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Comment by MigraineCallon Sep 29, 2022 9:06am

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Post# 34994378

RE:France's Total finally taps out

Thanks for this info.

However, I think it is a positive development for Canadian oil and gas. Good riddance I say. The ESG exodus from fossil fuels has dragged on share prices for a long time, bu that has now changed.

Now, funds are returning as capital inflows from funds are actually increasing. ESG funds have not performed well financially as oil companies have. It is just changeover and Total was late to the party, hence this news. Spinning off their oil sands investments makes good sense, and perhaps the new shareholders in this activity will be more aligned with the activities of the company to make it soar.

We need shareholders in the industry to vote cunstructively and demand positive change, not those that are controlled or easily influenced by the nutbar agendas of radical special interest groups.

Like a bad marriage, best to cut the ties and go their own way before causing too much unneccesary damage to the business.

mrmomo wrote: As with so many other things that have happened in the Canadian O&G industry, this was also inevtiable and i'm a little surprised it didn't happen a lot sooner. So after a few years of withdrawls and divestiture from almost all the American Ep's including all sovereign fund investment from Sweden & Norway, France's total finally follows suit and decides to rid itself of Canadian oil. China has been also moving away from the Canadian O&G space as investment from them has nearly gone to zero, but albeit for very different reasons alltogether. News in the link below for those interested....

https://www.reuters.com/business/energy/frances-totalenergies-plans-spin-off-canadian-oil-sands-assets-2022-09-28/

Quite interesting how Total is approaching this, to remove themselves completely from this sector, what seems to be in a subtle & quiet way without drawing too much attention or ire from anyone on either side. I'm going to take a wild guess here and say this spinoff will only be a temporary asset on Total's books until they can find a willing buyer at an accpetable price point at the right time.

This developement along with so many others over the past 5 years, does not bode well in the long term for the Canadian O&G industry, especially heavy oil & the Oil sands.

GLTA