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 > The French being the French?

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Comment by Experiencedon Feb 17, 2023 10:01am

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Post# 35291866

RE:The French being the French?

Great question...

Can't say I have the answer, but here is one possibility as to why they might have done what they did.

Teck in their "desperation" to get rid of their share of Fort Hills sold part of their stake to SU at a significant discount (hence the big writeoff by SU on their share).

Perhaps Total, figured that the price was lower than what they thought it was worth and decided to pick up their option for a future sale at a price they thought it was worth. I suspect in coming to this conclusion they consulted with Migraine as to future of oil (lol). For sure they didn't talk to me...lol.

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