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On March 23, 2009, Suncor announced its intent to acquire Petro-Canada. [11] [12] This merger created a company with a combined market capitalization of C$43.3 billion. On June 4, 2009, a 98% approval rate was reached by Suncor's shareholders for the acquisition of Petro-Canada and the Competition Bureau approved the merger on June 21, 2009.
By 2013, Suncor and CNRL—Canada's two largest petroleum companies were also among top eleven of the country's most valuable companies. [13] In 2011, Canadian Natural Resources, overtook Suncor to become Canada's largest producer. Suncor produced 549,000 boe/d in 2012 only slightly higher than in 2011. [14]
Petro-Canada (colloquially known as Petro-Can) is a retail and wholesale marketing brand subsidiary of Suncor Energy. Until 1991, it was a federal Crown corporation (a state-owned enterprise ). In August 2009, Petro-Canada merged with Suncor Energy, with Suncor shareholders receiving approximately 60 percent ownership of the combined company ...
A Bay Street money manager says Suncor Energy will have no problem finding partners to enhance Petro-Canada gas stations with more food, shopping, and green travel options.
Elliott, which owns about 3% of Suncor, has urged the company to bring in new directors and undergo a management and strategic review. ... Canada's second-largest crude oil producer has been under ...
(Reuters) -Canada's Suncor Energy on Tuesday said it will retain its Petro-Canada gas station retail business following a review the company initiated earlier this year under pressure from ...
Later it was acquired by Petro-Canada and supplied fuel in Ontario. It closed in 2005, with Petro-Canada (now Suncor Energy) getting supplies for the Ontario market from its Montreal Refinery. The facility once employed 350 people and produced some 90,000 barrels per day (14,000 m 3 /d). Petro-Canada ascribed the decision to close the facility ...
The Suncor Energy (Petro Canada) refinery near Edmonton has a capacity of 142,000 barrels per day (22,600 m 3 /d) of crude oil. The Imperial Oil Strathcona Refinery near Edmonton has a capacity of 187,200 barrels per day (29,760 m 3 /d). The Shell Canada Scotford Refinery near Edmonton has a capacity of 100,000 barrels per day (16,000 m 3 /d).