7/5/2023 0 Comments Two years in the oil sands![]() In further evidence of the strength of that demand, ConocoPhillips refused to waive its right of first refusal on one of Total’s oil sands projects and instead used it to acquire the whole operation in Surmont. Earlier this year, Suncor struck a deal with French supermajor TotalEnergies to acquire its entire Canadian oil sands portfolio for over $4 billion as demand for oil encourages production expansion. Rich Kruger took the helm of Suncor in early April and promised to streamline the oil sands operator’s business into a “simpler and more focused organization”.Īt the same time, however, the company is expanding, production-wise. A fascinating, harrowing, unforgettable book about a place few outsiders can comprehend. Suncor’s latest quarterly financial report showed higher earnings than expected by analysts but much lower on an annual basis. Ducks: Two Years in the Oil Sands (signed edition) Kate Beaton 39.95. ![]() As we do this, we will eliminate work, critically looking at what we do, why we do it, how we do it and the value it adds," Kruger said in a message to employees cited in the CBC report on the news.Īccording to company data cited by CBC, Suncor had 16,558 employees as of the end of 2022, which was down from 16,922 a year earlier.īloomberg noted in its report that Suncor has been under pressure from shareholders to improve its financial performance and share price. ![]() "Staffing reductions will occur at all levels of the organization and will be based on both performance and business need. ![]()
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