Suncor Energy Ups Stake in Syncrude Oil Sands Joint Venture.
M2 EQUITYBITES-March 1, 2018-Suncor Energy Ups Stake in Syncrude Oil Sands Joint Venture
(C)2018 M2 COMMUNICATIONS http://www.m2.com
1 March 2018 - Canadian energy company Suncor has closed the transaction to purchase a 5% interest in the Syncrude joint venture from Mocal Energy, the company said.
Syncrude mines oil sands in Canada.
The USD 730m purchase price is subject to closing adjustments.
Through this transaction Suncor's share in the Syncrude joint venture has increased from 53.74% to 58.74%.
The Syncrude joint venture partners are Suncor (58.74%), Imperial Oil Resources, Sinopec Oil Sands Partnership (9.03%) and Nexen Oil Sands Partnership (7.23%).
Suncor Energy's operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand.
((Comments on this story may be sent to firstname.lastname@example.org))
|Printer friendly Cite/link Email Feedback|
|Publication:||M2 EquityBites (EQB)|
|Date:||Mar 1, 2018|
|Previous Article:||1st Constitution Bancorp, New Jersey Community Bank Fix Stock Exchange Ratio for Stock Portion of Merger Consideration.|
|Next Article:||Nova Leap Health Closes USD 2.1m Acquisition of Massachusetts Home Care Business.|