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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (135909)10/27/2022 9:17:18 AM
From: Goose94Read Replies (1) of 202716
 
Suncor Energy (SU-T) is doubling down on the Fort Hills oil sands project. The energy giant is buying up Teck Resources’ 21.3 per cent stake in the project for $1 billion, boosting Suncor’s ownership of the asset to 75.4 per cent. As part of the revaluation of the Fort Hills project, Suncor says it will book a $2.6 billion non-cash accounting impairment charge on its stake in the project. Suncor is already the operator of Fort Hills, which has long been dogged by operational challenges and higher than expected costs.

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