Suncor Energy Inc T.SU

SHEL buying gas stations

[autofocus111]

Maybe they should give SU a call.

>>>Shell Canada and Sobeys parent Empire Co. Ltd. announced Thursday Shell's acquisition of 56 Empire-owned gas stations in Western Canada, for about $100 million in cash. Martin said the deal aligns with Shell plc's global push to expand its retail fuel network in preparation for the coming energy transition. "We are expanding our footprint, and that not only allows us to meet the needs of customers and motorists in Canada today, but also gives us a great opportunity to expand additional fuel offerings and low-carbon fuel offerings in the future in these locations," he said.

https://www.bnnbloomberg.ca/shell-canada-snapping-up-gas-stations-in-preparation-for-energy-transition-1.1860002

[Experienced]

Very interesting.  Frankly, this news surprised me. Back of the envelope math for this deal would price PetroCanada gas stations at 3.2 billion and they were asking 4 billion so perhaps that would suggest that SU was asking too much for petroCanada and that is why they had no takers.

[Co2Harvest]

Hm. Shell buying gas stations to offer low carbon fuels in the future, and Suncor keeping gas stations for strategic reasons.... Got Hydrogen???

[1234bmth]

Maybe that's the reason that SU is up +4% in after hours market.