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| Type | Public (TSX: SU, NYSE: SU) |
|---|---|
| Founded | Montreal, Quebec in 1919 |
| Headquarters |  Calgary, Alberta |
| Key people | John T. Ferguson, Chairman of the Board, Richard L. George, CEO |
| Industry | Oil and Gasoline |
| Products | Energy |
| Revenue | ▲ $30.1 billion CAN (2008) |
| Net income | ▲ $2.1 billion CAN (2008) |
| Employees | 6,465 (2008)[1] |
| Website | www.suncor.com |
Suncor Energy Inc. (TSX: SU, NYSE: SU) is a Canadian integrated energy company, based in Calgary, Alberta. It has specialized on production of synthetic crude from oil sands. Suncor ranks number 254 on the Forbes Global 2000 list.[2]
Suncor markets products and services to retail customers in Ontario through a network of more than 280 Sunoco-branded retail sites, as well as more than 200 customer-operated retail and diesel sites. In addition, it sells oil products under Petro-Canada brand. Suncor also markets through a retail network of Phillips 66-branded outlets throughout Colorado.
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History
Suncor was founded in 1919 in Montreal as Sun Company of Canada, a subsidiary of Sun Oil.[3] Sun merged its Canadian interests, including Great Canadian Oil Sands, the original developer of Canada's Athabasca oil sands to form Suncor in the 1970s. In 1981, the Government of Ontario purchased a 25% stake in Suncor before divesting in 1993. In the mid 1990's Sun Oil, now Sunoco, Inc. also divested its interest in Suncor, although Suncor maintains the Sunoco retail brand in Canada. Suncor is now an independent, widely-held company.
On March 23, 2009, Suncor announced an acquisition of Petro-Canada.[4] This merger created a company with a combined market capitalization of C$43.3 billion. On 4 June, 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.[5][6]. The merger with Canada's 11th largest company was completed on August 1, 2009 [7]in a 21 billion dollar deal to form the second largest company in Canada [8]
Operations
In 1967, Suncor pioneered commercial development of Canada's Athabasca oil sands — one of the world's largest petroleum resource basins. Since then, Suncor has grown to become a globally-competitive, Canadian-based integrated energy company with a balanced portfolio of high quality assets, a strong balance sheet and significant growth prospects.
- Near Fort McMurray, Alberta, Canada, Suncor extracts and upgrades oil sands into high-quality, refinery-ready crude oil products and diesel fuel.
- In Western Canada, Suncor explores for, develops and produces natural gas.
- The international and offshore business focuses on operations in the North Sea (United Kingdom, Netherlands and Norway) and the East Coast of Canada (where we participate in every major oil development project). We are also building material positions in the growth areas of Libya, Syria and Trinidad and Tobago.
- Across Canada and Colorado, Suncor's downstream operations market the company's refined products to industrial, commercial and retail customers. We have refineries in Edmonton, Alberta, Sarnia, Ontario, Montreal, Quebec and Commerce City, Colorado. We also sold about 15% of all petroleum products sold in Canada in 2008. Our Lubricants business is the largest producer of quality lubricant base stocks in Canada.
Suncor is also investing in clean, renewable energy sources:
- Suncor has four wind power farms in operation. With a total capacity of 147 megawatts, these renewable energy sites serve as an alternative to hydrocarbon-fuelled generation. These farms offset the equivalent of approximately 284,000 tonnes of carbon dioxide annually.
- Suncor's ethanol facility located in the township of St. Clair, Ontario has a current production capacity of 200 million litres per year. The ethanol is blended into our Sunoco and Phillips 66-branded gasoline and contributes to CO2 emission reductions of up to 300,000 tonnes per year.
Products
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Products of Suncor are sold in service stations in Ontario under the Sunoco brand name and Colorado (via Phillips 66)and Shell, many stations being converted as of this writing.:
- Ultra 94, Gold Diesel fuels
- ecoWash car wash
- Suncor MasterCard
With the merger of Petro-Canada into Suncor Energy on August 1, 2009, Suncor also sells its products under the Petro-Canada name across Canada.
Facilities
Canada
- Oil sands mining and in-situ operations in the Athabasca oil sands region near Fort McMurray, Alberta. These facilities recover bitumen, a very heavy form of crude oil, from the oil sands.
- Four wind power projects, two in Alberta, one in Saskatchewan and one in Ontario. Together, these wind power projects have a generating capacity of 147 megawatts and are expected to offset the equivalent of approximately 728 tonnes of carbon dioxide per day.
- Upgrading operations that process bitumen into higher-quality synthetic crude oil. In 2007, Suncor had a processing capacity of more than 260,000 bbl of crude oil per day.
- 272 Sunoco retail service stations in Ontario
- 140 Pioneer-operated retail service stations in Ontario
- 85,000 barrel-per-day refinery located in Sarnia, Ontario
- 135,000 barrel-per-day refinery located in Edmonton, Alberta
- 130,000 barrel-per-day refinery located in Montreal, Quebec
- Lubricants complex in Mississauga, Ontario, rated at 15,600 barrels-per-day
- St. Clair ethanol plant
- 60 UPI-operated service stations in rural Ontario
- Sunoco FleetFuels sites in southern Ontario
United States
- 93,000 barrel-per-day refinery in Commerce City, Colorado
- Grand Junction CO Products Terminal
- 43 retail stations branded as Phillips 66 in the United States
North West Europe
- Triron Area
- Hanze Field
- De Ruyter Field
- Buzzard Field (Nexen operated)
Corporate governance
Board of directors
John Ferguson Director since 1995 Chairman of the Board
Richard L. George Director since 1991 President and Chief Executive Officer Suncor Energy Inc.
Mel E. Benson Director since 2000 Chair, Environment, Health and Safety Committee; member, Human Resources and Compensation Committee
Brian Canfield Director since 1995 Chair, Audit Committee; member, Governance Committee
W. Douglas Ford Director since 2004 Member, Human Resources and Compensation Committee, Governance Committee
Paul Haseldonckx Director since 2009 Member, Audit Committee, Environment, Health and Safety Committee
John R. Huff Director since 1998 Member, Human Resources and Compensation Committee, Environment, Health and Safety Committee
Brian MacNeill Director since 2009 Chair, Governance Committee; member, Audit Committee
Maureen McCaw Director since 2009 Member, Human Resources and Compensation Committee, Environment, Health and Safety Committee
Mike O'Brien Director since 2002 Member, Governance Committee, Audit Committee
James Simpson Director since 2009 Chair, Human Resources and Compensation Committee; member, Environment, Health and Safety Committee
Eira Thomas Director since 2006 Member, Audit Committee, Governance Committee
Management team
- Rick George, President and Chief Executive Officer
- Steve Williams, Chief Operating Officer
- Kirk Bailey, Executive Vice President, Oil Sands
- Neil Camarta, Executive Vice President, Natural Gas
- Boris Jackman, Executive Vice President, Refining and Marketing
- Mike MacSween, Senior Vice President, In-Situ
- Eric Axford, Senior Vice President, Operations Support
- Peter Kallos, Executive Vice President, International & Offshore
- Kevin Nabholz, Executive Vice President, Major Projects
- Jay Thornton, Executive Vice President, Energy Supply, Trading and Development
- Sue Lee, Senior Vice President, Human Resources and Communications
- Bart Demosky, Chief Financial Officer
- Andrew Stephens, Senior Vice President, Business Services
- Terry Hopwood, Senior Vice President and General Counsel
- Harry Roberts, Senior Vice President, Integration
- Mark Little, Senior Vice President, Integration
- Ron Brenneman, Executive Vice Chairman
Environmental record
According to a pollution watch fact sheet, in 2007, Suncor Energy's oil sands operations had the sixth highest greenhouse gas emissions in Canada.[9][10] While Suncor has reduced the greenhouse gas emissions intensity of its oil sands operations by more than 50% (and 25% company-wide) since 1990, with growing production, total (absolute) greenhouse gas emissions from the company's operations have continued to increase.
On April 2, 2009, Suncor was fined $675,000 for not installing pollution control equipment at its Firebag operation near Fort McMurray, Alberta back in July 2006.[11] On the same day, Suncor was fined $175,000[12] for dumping of untreated wastewater from a company work camp near Fort McMurray into the Athabasca River in 2007.[13][14]
Suncor has been actively working to reduce the amount of toxic bitumen entering tailings ponds. Working under the auspices of the Natural Sciences and Engineering Research Council of Canada (NSERC), Suncor has teamed with the University of Alberta and Matrikon, an Edmonton-based software company, to develop new separation-cell technology that reduces the amount of bitumen entering tailings ponds by 50 per cent.[15]
Community involvement and awards
In 2007, Suncor Energy was named one of Canada's Top 100 Employers, as published in Maclean's magazine, the largest oilsands development firm to receive this honour.[16]
In October 2008, Suncor was named one of "Canada's Top 100 Employers" by Mediacorp Canada Inc., and was featured in Maclean's newsmagazine. Later that month, Suncor was also named one of Alberta's Top Employers, which was announced by the Calgary Herald[17] and the Edmonton Journal.[18][19]
See also
- Canadian Centre for Energy Information
- History of the petroleum industry in Canada (oil sands and heavy oil)
- Scotford Upgrader
- Syncrude
- largest petroleum companies Canada
- PollutionWatch
References
- ^ "Company Profile for Suncor Energy Inc (SU)". http://zenobank.com/index.php?symbol=SU&page=quotesearch. Retrieved 2008-10-09.
- ^ 2008 edition
- ^ http://www.suncor.com/popup.aspx?cid=331
- ^ "Canoe.ca, "Suncor, Petro-Canada merge”, March 23, 2009". http://money.canoe.ca/News/Other/2009/03/22/8847781-cp.html.
- ^ {{cite web|url=http://ctv2.theglobeandmail.com/servlet/story/RTGAM.20090604.wpetrocan0604/business/Business/businessBN/ctv-business|title=CTV.ca, "Suncor shareholders add support to Petrocan deal", 4 June, 2009}}
- ^ {{cite web|url=http://www.petro-canada.ca/en/media/1886.aspx?id=1020094, "Competition Bureau approves merger", 4 June, 2009}}
- ^ "suncor, petro canada complete merger". bizjournals. 2009-08-06. http://www.bizjournals.com/denver/stories/2009/08/03/daily65.html. Retrieved 2009-08-11.
- ^ "suncor, a united petro canada and suncor Canada's second biggest company ?". national post. 2009-03-23. http://network.nationalpost.com/np/blogs/fpmagazinedaily/archive/2009/03/23/a-united-petro-canada-and-suncor-canada-s-second-biggest-company.aspx. Retrieved 2009-08-11.
- ^ http://www.cbc.ca/money/story/2009/03/23/f-suncor-faq.html
- ^ http://www.pollutionwatch.org/pressroom/factSheetData/GHGFactSheetEng.pdf
- ^ http://www.edmontonsun.com/News/Edmonton/2009/04/02/8984616.html
- ^ http://www.cbc.ca/canada/calgary/story/2009/04/02/edm-suncor-fined.html
- ^ http://www.calgaryherald.com/business/fp/Suncor+fined+twice/1457244/story.html
- ^ http://www.greenpeace.org/canada/en/campaigns/suncor-charges
- ^ "Edmonton Journal, "Why be shy about green success story?”, May 2, 2009". http://www.edmontonjournal.com/opinion/about+green+success+story/1557087/story.html.
- ^ "Reasons for Selection, 2007 Canada's Top 100 Employers". http://www.eluta.ca/einfo?en=Suncor+Energy+Inc.&ri=e40282f3eda5073ed866223cecf75b6f&rk=06f42e5b920c614397cf38b2a8ea0414.
- ^ "Calgary Herald, "Alberta’s top 40 places to work”, October 18, 2008". http://www.canada.com/calgaryherald/story.html?id=02b19397-2fdf-4039-ba29-b93eaf908adb.
- ^ "Edmonton Journal, "Alberta's best focus on attracting, keeping staff", October 31, 2008". http://www.canada.com/edmontonjournal/story.html?id=5bc8514a-b0eb-4538-bab4-a63f11f51a16.
- ^ "Reasons for Selection, 2009 Canada's Top 100 Employers Competition". http://www.eluta.ca/top-employer-suncor.
External links
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Wikinews has related news: Suncor makes bid to take over Petro-Canada |
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