Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Canada
  4. Toronto Stock Exchange
  5. Suncor Energy Inc.
  6. News
  7. Summary
    SU   CA8672241079

SUNCOR ENERGY INC.

(SU)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Suncor Energy : partners with indigenous communities to buy stake in Northern Courier Pipeline

09/16/2021 | 08:03am EDT
FILE PHOTO: Suncor Energy facility is seen in Sherwood Park, Alberta

(Reuters) - Canada's Suncor Energy said on Thursday it had partnered with eight indigenous communities to buy all of TC Energy Corp's 15% stake in the Northern Courier Pipeline Limited Partnership.

Suncor, three First Nations and five Métis communities will own a 15% stake in this pipeline asset with a value of about C$1.3 billion. ($1.03 billion).

Oil and gas companies have been increasingly partnering with Canada's First Nations on projects as they play a pivotal role in Canada's oil industry. Governments and companies have a legal duty to consult and accommodate First Nations before proceeding with resource projects affecting their territories.

However, some indigenous groups oppose such partnerships and deals.

The partnership is expected to generate gross revenues of about C$16 million annually for its partners and provide reliable income, Suncor said in a statement.

The indigenous communities' participation in the deal is funded through a non-recourse financing that is supported by a loan guarantee of up to C$40 million from the Alberta Indigenous Opportunities Corp.

The Northern Courier Pipeline asset consists of two 90-kilometre pipelines that transport bitumen and diesel or crude from Fort Hills in Alberta's Athabasca region to a storage, blending and cooling facility located about 30 kilometers north of Fort McMurray, Alberta.

($1 = 1.2635 Canadian dollars)

(Reporting by Arunima Kumar in Bengaluru; Editing by Amy Caren Daniel)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
SUNCOR ENERGY INC. 0.03% 29.11 Delayed Quote.36.30%
TC ENERGY CORPORATION 2.14% 66.39 Delayed Quote.24.02%
All news about SUNCOR ENERGY INC.
02:43pWTI Oil Rises to New Multi-Year Highs as Focus Stays on Tight Supply Despite U.S. Inven..
MT
02:39pNovember WTI Crude Oil Ends Up US$0.97; Settles at US$82.28 per Barrel
MT
08:45aOil Rises to New Multi-Year Highs as Focus Stays on Tight Supply Despite U.S. Inventory..
MT
06:35aCRUDE BRIEF : NY Crude Up 0.70 or 0.85% at Near 7 Year Highs of US$82; Brent Also Up Near ..
MT
10/14WTI Crude Oil Settles Higher as the IEA Boosts Its Demand Forecast, U.S. Oil Inventorie..
MT
10/14November WTI Crude Oil Contract Ends up US$0.87; Settles at US$81.31 per barrel
MT
10/14Oil Rises as the IEA Boosts Its Demand Forecast on Fuel Switching
MT
10/14NY CRUDE BRIEF : Up 1.25% at US$81.45
MT
10/13WTI Crude Oil Falls as OPEC Lowers Its 2021 Demand Forecast; China Imports Fall
MT
10/13November WTI Crude Oil Contract Ends Down US$0.20; Settles at US$80.44 per Barrel
MT
More news
Analyst Recommendations on SUNCOR ENERGY INC.
More recommendations
Financials
Sales 2021 38 614 M 31 165 M 31 165 M
Net income 2021 3 961 M 3 197 M 3 197 M
Net Debt 2021 13 023 M 10 511 M 10 511 M
P/E ratio 2021 11,2x
Yield 2021 2,89%
Capitalization 43 154 M 34 884 M 34 829 M
EV / Sales 2021 1,45x
EV / Sales 2022 1,29x
Nbr of Employees 12 591
Free-Float 98,5%
Chart SUNCOR ENERGY INC.
Duration : Period :
Suncor Energy Inc. Technical Analysis Chart | SU | CA8672241079 | MarketScreener
Technical analysis trends SUNCOR ENERGY INC.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 29,10 CAD
Average target price 37,21 CAD
Spread / Average Target 27,9%
EPS Revisions
Managers and Directors
Mark S. Little President, Chief Executive Officer & Director
Alister Cowan Chief Financial Officer & Executive Vice President
Michael M. Wilson Chairman
Bruno Francoeur Executive Vice President-Business & Operations
Eira Margaret Thomas Independent Director
Sector and Competitors
1st jan.Capi. (M$)
SUNCOR ENERGY INC.36.30%34 890
EXXON MOBIL CORPORATION50.41%262 481
RELIANCE INDUSTRIES LTD36.02%228 224
CHEVRON CORPORATION28.85%210 429
BP PLC40.38%97 386
CHINA PETROLEUM & CHEMICAL CORPORATION14.12%77 554