Tag Archive: with $310M investment

on September 21, 2015 in World News

Suncor boosts stake in Fort Hills project, with $310M investment

Suncor boosts stake in Fort Hills project, with $310M investment Suncor Energy (TSX:SU) is tightening its grip on the Fort Hills oil sands project by paying $310 million to acquire an additional 10 per cent interest from one of its two partners. The seller is Total E&P Canada Ltd., a subsidiary of Paris-based Total SA, which will retain a 29.2 per cent interest — remaining the second-largest partner after Suncor. Once the transaction closes, Suncor will own 50.8 per cent of the project and 20 per cent will be owned by Teck Resources Ltd., which has waived its right to… View Article

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