- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Total Sells 10 Percent of Fort Hills Project to Suncor
Mining Weekly reported that French oil and gas company Total SA sold 10 percent of its planned 180,000 barrel per day Fort Hills project to Suncor Energy (TSX:SU,NYSE:SU) for approximately $230 million.
Mining Weekly reported that French oil and gas company Total SA sold 10 percent of its planned 180,000 barrel per day Fort Hills project to Suncor Energy (TSX:SU,NYSE:SU) for approximately $230 million.
As quoted in the market news:
Total said it had decided to reduce its exposure to Canadian oil sands projects in the context of lower global oil prices. Suncor president and CEO Steve Williams said the deal provides a new opportunity and that his company could absorb further investments in 2015 for Fort Hills within its current budget for the year.
“The opportunity to acquire an additional interest at a discounted price underscores Suncor’s confidence in its position within the oil sands,” said Williams in a statement. “We consider this project to be one of the best opportunities for long-term sustainable growth in the industry today, thanks to the exceptional quality of the resource and our disciplined project execution.”
Oil and gas companies in Alberta, home to vast oil sands deposits and the largest source of US crude oil imports, have laid off thousands of workers in recent months due to slumping global prices.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.