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In 2015 Suncor courted Canadian Oil Sands, the largest owner of the Syncrude project with 37% ownership (compared with Suncor's 12%), with proposals for acquisition and hostile takeover. [17] In January 2016 they reached an agreement with Suncor acquiring COS for C$6.6 billion, raising its Syncrude ownership to 49%. [18]
Syncrude Canada Ltd. is one of the world's largest producers of synthetic crude oil from oil sands and the largest single source producer in Canada. It is located just outside Fort McMurray in the Athabasca Oil Sands , and has a nameplate capacity of 350,000 barrels per day (56,000 m 3 /d) of oil, equivalent to about 13% of Canada's consumption ...
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As of 2009, Syncrude and Irving Oil were leaders in the Canadian industry, with Syncrude being the top producer of oil sands crude and Irving Oil operating the largest oil refinery in the country. [5] Canadian oil company profits quickly recovered following the 2008 financial crisis; In 2009 they were down 90% but in 2010 they reached $8.4 billion.
Suncor (SU) expects first-quarter 2018 production to be 685,000 barrels of oil equivalent per day (BOE/d), reflecting a decline on both year over year and sequential basis. Suncor Cuts Syncrude ...
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World oil prices leaped skyward in 1979-80 and remained high for the first half of the 1980s. This helped Syncrude become successful financially as well as technically. Syncrude now meets about 14 per cent of Canada's oil requirements, mostly in the form of synthetic oil. The plant has produced nearly 2 billion barrels (320,000,000 m 3) of this oil
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