Topic: How To Invest

The Successful Investor Hotline – Friday, March 16, 2018

Article Excerpt

SUNCOR ENERGY INC., $42.91, Toronto symbol SU, is Canada’s largest integrated oil company, with its major projects in the Alberta oil sands. It also owns four refineries (three in Canada and one in Colorado), along with 1,500 Petro-Canada gas stations. Suncor recently increased its stake in the Syncrude oil sands project in northern Alberta, from 53.74% to 58.74%. It purchased that additional interest from Mocal Energy. The project’s other partners include Imperial Oil (25%), Sinopec Oil Sands Partnership (9.03%) and Nexen Oil Sands Partnership (7.23%). The company paid $925 million for its additional stake. To put that price in context, Suncor’s market cap (the value of all outstanding shares) is $69.2 billion. Due to a small operational problem at Syncrude, the company has decided to begin a scheduled maintenance project immediately instead in April 2018. This maintenance will take eight weeks to complete. As a result, Syncrude’s production in the first quarter of 2018 will fall 1.5%, to 140,000 barrels a day from 142,100…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.