Nov 29 (Reuters) – Canada’s Suncor Energy Inc SU.TO said on Tuesday it will retain the Petro-Canada gas station retail business following a review it initiated earlier this year under pressure from activist investor Elliott Investment Management.
Why is Suncor selling Petro-Canada?
The Calgary-based oil company first announced last July it would explore the sale of its gas station network after reaching an agreement with Elliott which had publicly called for a shakeup at the company over missed production targets and Suncor’s poor safety record and share price performance compared to its peers.
Who bought out Petro-Canada?
Suncor
Integrated energy company Suncor acquired Petro-Canada in 2009. Petro-Canada’s operations include oil sands development, onshore and offshore oil and gas production, petroleum refining and petroleum product marketing, with more than 1,500 retail outlets and 300 Petro-Pass wholesale locations in Canada.
Did Suncor sell Petro-Canada?
Nov 29 (Reuters) – Canada’s Suncor Energy (SU.TO) 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 activist investor Elliott Investment Management.
Did Sunoco buy Petro-Canada?
Petro‑Canada and Suncor merge.
We merged with Suncor to form Canada’s leading integrated energy company. As a result, Sunoco locations became Petro‑Canada locations.
Is Petro-Canada owned by Shell?
Proudly owned by Suncor, Petro‑Canada™, has a network of more than 1,800 retail and wholesale locations across Canada, providing customers with a wide variety of fuel and service offerings including low-carbon fuel options.
Does China own Suncor?
The Syncrude project is owned by Canadian Oil Sands (37% CDN), Suncor (12% CDN), Mocal Energy (5% Japan), Murphy Oil (5% USA) Suncor (59% Canadian), Sinopec (9% China), Imperial Oil (7.5% CDN and 17.5% USA) and Nexen (7% China).
Oil Sands Mining Operations.
| Operator | Syncrude |
|---|---|
| Operating | 407,000 |
| Construction | |
| Total | 407,000 |
Is Petro-Canada owned by China?
PetroChina Canada is a wholly owned subsidiary of PetroChina Company Limited (PetroChina). PetroChina has been publicly listed on the NYSE and HKSE since 2000. CNPC is China’s largest oil company and the world’s third largest oil company, operating 91 energy-related projects in over 35 countries and regions.
Who owns Esso in Canada?
Esso is a trademark of Imperial Oil Limited. Imperial Oil, licensee. Mobil is a trademark of Exxon Mobil Corporation or one of its subsidiaries.
How much was Petro-Canada sold for?
Suncor is offering C$18.43 billion ($15.1 billion) for Petro-Canada in an all-share deal. That makes it the largest Canadian oil and gas takeover ever, according to Thomson Reuters data, and the biggest takeover of a Canadian company since 2007, when Rio Tinto bought aluminum producer Alcan for $43 billion.
Does Warren Buffett still own Suncor?
Two Canadian names were among those that Buffett sold – Suncor Energy, in which he trimmed positions, and Barrick Gold, which he exited. After the 2018 acquisition of Randgold, Barrick Gold holds a large portfolio of mines, with more than 10 mines individually producing 200,000 ounces or more.
Is Petro-Canada still government owned?
Petro-Canada is a retail and wholesale marketing brand subsidiary of Suncor Energy. Until 1991, it was a federal Crown corporation (a state-owned enterprise).
Petro-Canada.
| Type | Subsidiary |
|---|---|
| Production output | Oil, natural gas, petrochemicals |
| Revenue | C$18.911 billion (2006) |
| Number of employees | 4,514 (2008) |
| Parent | Suncor Energy |
Who owns Shell gas stations in Canada?
Shell plc
Shell Canada Limited (French: Shell Canada Limitée) is the principal Canadian subsidiary of British energy major Shell plc and one of Canada’s largest integrated oil companies.
Shell Canada.
| Type | Subsidiary |
|---|---|
| Website | shell.ca |
Who does Petro-Canada partner with?
For over 30 years, we have partnered with the Canadian Olympic Committee (COC) to support the Canadian Olympic Team.
Is Suncor owned by Shell?
Suncor also markets through a retail network of Shell and ExxonMobil branded outlets in Colorado.
Suncor Energy.
| Type | Public |
|---|---|
| Products | Petroleum, natural gas, petrochemicals and others |
| Revenue | $41.133 billion CAN (2021) |
| Net income | 4.119 billion CAN (2021) |
What happened to Sunoco in Canada?
In Canada, the Sunoco brand was licensed for the Ontario retail gas station operations of Suncor Energy until 2010. Following Suncor’s acquisition of Petro-Canada, all Canadian Sunoco outlets were converted to Petro-Canada branding, except for one location in Port Colborn, Ontario.
Do the Russians own Shell?
Lukoil is Russia’s largest oil producer after state-backed Rosneft. Shell announced in February that it would sell its Russian assets because of the invasion of Ukraine.
Where does most of Canada’s gasoline come from?
Western Canada Sedimentary Basin
Most of Canada’s domestic oil production happens in the Western Canada Sedimentary Basin (WCSB). Refineries located in, or near, the WCSB refine local domestic oil. In eastern Canada, refineries process less domestic crude and more imports.
Who owns the most Shell stock?
Top 10 Owners of Shell PLC
| Stockholder | Stake | Shares owned |
|---|---|---|
| Fisher Asset Management LLC | 0.58% | 20,770,344 |
| Dimensional Fund Advisors LP | 0.56% | 20,067,444 |
| Fidelity Management & Research Co… | 0.49% | 17,529,882 |
| Arrowstreet Capital LP | 0.34% | 11,922,016 |
Does China own any of Canadian oil?
More than 52 percent of “oilsands production” is owned by American shareholders, which is more than twice the level of Canadian ownership, she added. Another 5.2 percent of production is owned by Chinese state-owned companies, according to the report.
Who owns most of Canada’s oil?
As noted earlier, Canada’s fossil fuel industry is dominated by a handful of major players. The network map (next page) shows the ownership relationships for the eight largest companies: Enbridge, Suncor, Canadian Natural Resources Limited, Cenovus, Teck Resources, Encana, TransCanada Corporation and Pembina Pipeline.