Home Actualité internationale World News – CA – Suncor agrees to launch Syncrude by the end of next year
Actualité internationale

World News – CA – Suncor agrees to launch Syncrude by the end of next year

. . Suncor Energy Inc. . says it has been agreed to operate the Syncrude project by the end of 2021, subject to formal approval by each owner of the joint venture.

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The Canadian press
Employee

A dump truck works near the Syncrude oil sands production facility near the town of Fort McMurray, Alta. , in this file photo from 1. June 2014. THE CANADIAN PRESS / Jason Franson

CALGARY –
Suncor Energy Inc. . says it has been agreed to operate the Syncrude project by the end of 2021, subject to formal approval by each owner of the joint venture.

Suncor has a 58. 74 percent stake in the Syncrude joint venture, a position that increased from 12 percent in 2016.

Other Syncrude stakeholders who need to approve the agreement are Imperial Oil Resources Ltd. . , CNOOC Oil Sands Canada and Sinopec Oil Sands Partnership.

Suncor CEO Mark Little says the transition will help Syncrude better compete on cost-per-barrel.

Little says the deal could bring $ 300 million a year in synergy as Syncrude and Suncor have families employed by both companies after years of close relationships between neighboring energy projects.

According to Suncor’s statement, Syncrude and Suncor can also benefit from the bi-directional pipelines connecting Suncor’s base plant and Syncrude operations, which are now completed and commissioned.

Syncrude, Suncor Energy, Ölsand, Imperial Oil, Petroleum, Joint Venture, Mark S. . Kleine

World News – CA – Suncor agrees to bring Syncrude into operation by the end of next year
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Ref: https://calgary.ctvnews.ca

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