44-438: Petro-Canada (colloquially known as Petro-Can ) is a retail and wholesale marketing brand subsidiary of Suncor Energy . Until 1991, it was a federal Crown corporation (a state-owned enterprise ). In August 2009, Petro-Canada merged with Suncor Energy, with Suncor shareholders receiving approximately 60 percent ownership of the combined company and Petro-Canada shareholders receiving approximately 40 percent. The company retained
88-403: A benzene leak into Sand Creek was discovered in the fall of 2011. Employees at Suncor and the nearby Metro Wastewater Reclamation District Plant were exposed to benzene through the air and through drinking water. In April 2018, Suncor and ExxonMobil were sued by the city and county of Boulder, and the county of San Miguel over allegations that they were responsible for climate change in
132-589: A $ 937-million deal to acquire Murphy Oil 's 5% stake in the Syncrude project, growing its interest in Syncrude to nearly 54%, making it the majority shareholder of the project. In fall 2021, Suncor assumed operatorship of the Syncrude Joint Venture oil sands project in a bid to improve its performance. Suncor holds a majority stake in Syncrude with 58.74 per cent. In July 2022, president and CEO Mark Little resigned amid investor pressure and after
176-426: A 19% stake in the company. No other shareholder was allowed to own more than 10%, however. Also, foreigners could not control more than 25% of the company. During the first year, the value of the shares gradually dropped to $ 8 as Petro-Canada suffered a loss of $ 603 million, primarily because of the devaluation of some assets. The newly private company significantly reduced the number of properties in which it had
220-669: A Canadian integrated energy company based in Calgary , Alberta . It specializes in production of synthetic crude from oil sands . In the 2020 Forbes Global 2000 , Suncor Energy was ranked as the 48th-largest public company in the world. Suncor was created by Sun Oil in 1979 by the merger of its Canadian conventional and heavy oil companies, the Sun Oil Company and Great Canadian Oil Sands . Until 2010, Suncor marketed products and services to retail customers in Ontario through
264-599: A company with a combined market capitalization of C$ 43.3 billion. On June 4, 2009, a 98% approval rate was reached by Suncor's shareholders for the acquisition of Petro-Canada and the Competition Bureau approved the merger on June 21, 2009. The merger with Canada's 11th largest company was completed on August 1, 2009 in a $ 21 billion deal to form the second-largest company in Canada (after Royal Bank of Canada ) in terms of market capitalization. In December 2009, as
308-664: A company with a combined market capitalization of C$ 43.3 billion. Suncor planned to rebrand its existing Sunoco -branded retail operations in Ontario under the Petro-Canada name following the completion of the acquisition. The sale was approved by shareholders in June 2009, and completed on August 1, 2009. As a condition of the purchase, Suncor was required to divest some of its retail outlets. In December 2009, 98 Suncor-owned gas stations in Ontario (68 Sunoco and 30 Petro-Canada) were sold to Husky Energy . As of 2008, Petro-Canada
352-602: A condition of the merger, Suncor sold 98 gas stations in Ontario to Husky Energy , consisting of 68 Sunoco-branded locations and 30 Petro-Canada-branded locations. In 2015 Suncor courted Canadian Oil Sands , the largest owner of the Syncrude project with 37% ownership (compared with Suncor's 12%), with proposals for acquisition and hostile takeover . In January 2016 they reached an agreement with Suncor acquiring COS for C$ 6.6 billion, raising its Syncrude ownership to 49%. On April 27, 2016, Suncor announced that it had reached
396-520: A cyber attack. The company stated no customer information was stolen but some of the companies services, such as digital payment, crashed. In October 2023, Suncor Energy acquired TotalEnergies ' Canadian operations for C$ 1.47 billion($ 1.07 billion). In North America, Suncor develops and produces oil and natural gas in Western Canada, Colorado, and offshore drilling in eastern Canada. Its international efforts include offshore developments in
440-525: A direct interest. It reduced its annual operating costs by $ 300 million and it went from a staff of close to 11,000 to only about 5,000 employees. Many of these laid-off employees went on to work and start up other oil companies in Alberta, creating a new group of Canadian producers. But many did not work in other oil companies and some left Alberta to find work elsewhere. In his 2004 federal budget , Finance Minister Ralph Goodale pledged to sell
484-556: A downstream network of 780 company-owned, and 700 customer-operated retail and Diesel fuel sites, primarily in Ontario under the Sunoco brand (owing to Suncor having originally been established as a subsidiary of Sunoco). In 2009, Suncor acquired the former Crown corporation Petro-Canada , which replaced the Sunoco brand across its existing outlets. Suncor also markets through a retail network of Shell and ExxonMobil branded outlets in
SECTION 10
#1732794551919528-401: A flat conveyor belt rather than the roller-based systems traditionally used. In May 2023, Suncor announced an agreement with Canadian Tire Corporation to convert its over 200 Canadian Tire Gas+ locations to Petro-Canada. This will include integration of Petro Points with Canadian Tire's Triangle Rewards program. Suncor Energy Suncor Energy Inc. ( French : Suncor Énergie ) is
572-816: A lubricants plant in Mississauga , Ontario , but Suncor sold the unit to HollyFrontier in late 2016. At one time, the company had international operations in Algeria , the Netherlands , Tunisia , the United Kingdom , Syria , Italy , Libya , Trinidad and Tobago , Venezuela , Morocco and Norway . These sites outside of North America were run by the International and Offshore Business Unit of Petro-Canada with its headquarters in London . This
616-585: A majority-owned subsidiary of Sun Oil, it is now wholly owned by the independent Suncor. It was the first commercial development on the Athabasca oil sands , although small, earlier projects like that at Bitumount also played a role in development. The company held a 36.75% interest in the Joslyn north oil sands project which was shelved pending an economic review by operator Total S.A. in May 2014. The Joslyn project
660-783: A new refinery in Sarnia. Great Canadian Oil Sands was incorporated on 29 December 1953, however, the company originated in several previous ventures dating back to 1920. In 1962, GCOS received a permit from the Government of Alberta to build a plant in the Athabasca Oil Sands. The following year, Sun purchased a majority stake in GCOS. The GCOS plant went online in 1967. In 1979, Sun formed Suncor by merging its Canadian refining and retailing interests; Great Canadian Oil Sands (a majority-owned subsidiary, which constructed and operated
704-629: A policy tool (also abandoning the National Energy Program with it), and it began to compete fully and successfully with the private sector companies while abandoning its founding principles of economic nationalism . In 1990, the Mulroney government announced its intention to privatize Petro-Canada, and the first shares were sold on the open market in July 1991 at $ 13 each. The government began to slowly sell its majority control, but kept
748-472: A pre-paid wireless carrier known as Petro-Canada Mobility. It is a mobile virtual network operator (MVNO) on the Rogers Wireless network. Petro Points is the chain's loyalty program . Petro-Canada previously offered a co-branded Petro Points MasterCard in partnership with Citibank Canada . In June 2010, CIBC announced its intent to acquire Citibank's Canadian MasterCard portfolio, including
792-601: A refinery and associated Phillips 66 gas stations in Commerce City, Colorado from ConocoPhillips . In 2005, Suncor acquired a second Commerce City refinery from Valero Energy . Suncor moved its retail brand from Phillips 66 to Shell from 2009 to 2013. Suncor added the Exxon and Mobil brands in Colorado and Wyoming in 2015. On March 23, 2009, Suncor announced its intent to acquire Petro-Canada . This merger created
836-607: A series of workplace deaths and safety incidents. Executive vice-president for downstream Kris Smith was named as interim CEO. On February 21, 2023, Suncor announced that former Imperial Oil Ltd. president and CEO Rich Kruger had been named its new chief executive officer after a months-long search. Kruger replaced interim Suncor CEO Kris Smith on April 3, 2023. Smith assumed the role of chief financial officer and executive vice-president of corporate development after Suncor's annual general meeting on May 9, 2023. June 2023 transactions with customers and suppliers were impaired due to
880-621: A symbol of Canadian nationalism. It quickly grew to become one of the largest players in the traditional oil fields of the west as well as in the oil sands and the East coast offshore oil fields. When the Liberals returned to power in 1980, energy policy was an important focus, and the sweeping National Energy Program was created. This expanded Petro-Canada, but was seen as detrimental to Alberta's economy. The PC government of Prime Minister Brian Mulroney (1984–1993) stopped using Petro-Canada as
924-433: Is Petro-Canada. Suncor previously operated and franchised retail locations under the Sunoco brand, but post-acquisition, nearly all remaining Sunoco stations were converted to Petro-Canada. In addition, the company terminated all of its independent Sunoco franchises, as it planned to implement Petro-Canada's model of requiring franchisees to operate multiple locations. Presently, at least one Sunoco branded station exists, and
SECTION 20
#1732794551919968-767: Is located in North Bay, Ontario. A group of affected franchisees filed a class-action lawsuit over the matter, claiming that Suncor had violated Ontario's Arthur Wishart Act. However, the case was blocked by an Ontario court. In the United States, it operates retail outlets in Colorado under the Shell and Phillips 66 brands. On April 13, 2012, Suncor paid a $ 500,000 fine after being found guilty of price-fixing in Ontario. Suncor Energy owned and operated three Bombardier CRJ900ER aircraft but sold them in late 2016 and now uses WestJet to shuttle Suncor employees to
1012-584: The Mad Cow crisis. Government spending was set to increase at the same rate as Gross domestic product (GDP) over the next few years with any surplus going to pay down the national debt. The budget was criticized by the Conservative Party for its lack of tax cuts and its increases in spending. The New Democratic Party criticized the policy of debt reduction, arguing that social spending, especially on health care, would be more beneficial. Before
1056-740: The Trans-Canada Highway . As early as the mid-1990s in some Alberta locations, Petro-Canada started opening a new fast-food deli-oriented branded convenience store called Neighbours. Most of these stores are in the GTA. The kitchen provided freshly made sandwiches as well as breakfast and burgers heated from frozen, and in most cases was open from early morning till 9 or 10 in the evening. As of 2013, many of these Neighbours stores have had their kitchens' afternoon and dinner hours drastically slashed and some have been permanently closed and are being rebranded to A&W. In 2006, Petro-Canada launched
1100-664: The Commerce City refinery, the largest settlement with a single facility over air pollution violations in Colorado history. By 2009, Suncor was working to reduce the amount of bitumen entering tailings ponds . In 2009, under the auspices of the Natural Sciences and Engineering Research Council of Canada (NSERC), Suncor teamed with the University of Alberta and Matrikon, an Edmonton-based software company, to develop separation-cell technology to potentially reduce
1144-719: The North Sea, and conventional, land-based efforts in Libya, Syria, and Trinidad and Tobago. Suncor operates refineries in Edmonton, Alberta; Sarnia, Ontario; Montreal, Quebec and Commerce City, Colorado. These refineries supply industrial, retail and commercial consumers. The company is also one of the largest Canadian retailers of petroleum products. Suncor is the world's largest producer of bitumen , and owns and operates an oil sands upgrading plant near Fort McMurray, Alberta, Canada. Originally developed by Great Canadian Oil Sands,
1188-598: The Suncor Energy name for the merged corporation and its upstream operations. It continues to use the Petro-Canada name nationwide. In 1973, world oil prices quadrupled due to the Arab oil embargo following the Yom Kippur War . The province of Alberta had substantial oil reserves , whose extraction had long been controlled by American corporations. The government of Prime Minister Pierre Trudeau and
1232-551: The United States, Suncor has also been fined by the Colorado Department of Public Health and Environment . In April 2012, a fine of $ 2.2 million was assessed for air pollution. Suncor failed to monitor and control emissions a number of times throughout 2009 and 2010, and numerous emissions exceeded regulations. Suncor was also cited for "failure to conduct equipment inspections, train employees, and fully develop standard procedures for operating equipment". Additionally,
1276-675: The United States. The Sun Oil Company began operations in Canada in 1919 when it formed the Sun Company of Canada. The company opened offices in Montreal and began importing American products to Canada for sale. On 31 March 1923, Sun incorporated a Canadian subsidiary, the Sun Oil Company Limited. In 1932, the company transferred its headquarters from Montreal to Toronto. In 1950 the Sun Oil Company drilled its first successful Canadian oil well in Alberta. In 1953 it opened
1320-510: The amount of bitumen entering tailings ponds by 50 per cent. By 2009, Suncor operated four wind farms. These wind farms provided 147 megawatts of power, providing an annual CO 2 offset of 284,000 tonnes compared to coal-generated electricity. Suncor operates an ethanol facility in St. Clair Township, Ontario. The facility is the largest corn ethanol producer in Canada. 2004 Canadian federal budget The Canadian federal budget of 2004
1364-639: The benefit of Canadians." Trudeau's Liberals were then in a minority government and dependent upon the support of the NDP to stay in power. The idea also fit with the growing movement toward economic nationalism within the Liberals. The Liberals and NDP passed the bill over the opposition of the Progressive Conservative Party led by Robert Stanfield . Petro-Canada was founded as a Crown Corporation in 1975 by an act of Parliament. It started its operations on 1 January 1976. The company
Petro-Canada - Misplaced Pages Continue
1408-402: The co-branded Petro-Canada cards. Petro Points currently offers bonuses for RBC clients. Around 220 Petro-Canada outlets include a "SuperWash" car wash ; the majority of these operations use soft touch systems, but some (particularly those that were formerly Sunoco stations) feature touchless equipment instead. Some newer locations feature a "Glide Auto Wash"—a soft touch tunnel that utilizes
1452-474: The company's operations have increased because of growing oil sands production. On April 2, 2009, Suncor was fined $ 675,000 for failing to install pollution control equipment at its Firebag operation near Fort McMurray , Alberta in July 2006. On the same day, Suncor was fined $ 175,000 for dumping untreated wastewater from a company work camp near Fort McMurray into the Athabasca River in 2007. In
1496-599: The establishment of Petro-Canada, the federal government transferred its 45% stake in Panarctic Oils Ltd. and its 12% stake in Syncrude to the newly established company. In 1976, Petro-Canada purchased Atlantic Richfield Canada , in 1978 Pacific Petroleums , and in 1981 the Canadian operations of Petrofina . Most of the original Petro-Canada refineries and service stations were acquired from BP Canada in 1983. The company became popular outside of Alberta as
1540-479: The first commercial plant to develop Canada's Athabasca oil sands and went on production in 1967); and its conventional oil and gas interests. In 1981, the Government of Ontario purchased a 25% stake in the company; it divested in 1993. In 1995 Sun Oil also divested its interest in the company, although Suncor maintained the Sunoco retail brand in Canada. With these two divestitures, Suncor become an independent, widely held public company . In 2003, Suncor acquired
1584-431: The government's remaining stake in the company; by the end of the year it had sold its 19% stake, 49 million shares in all, for net proceeds of $ 3.2 billion. As of June 2007, the company's largest shareholders were Capital Research and Management Company (a Capital Group company), with 7.3%, and Barclays , with 4%. On March 23, 2009, Suncor Energy announced its intent to acquire Petro-Canada, which would form
1628-475: The oil sands. As of February 2023, Suncor Energy owns a Bombardier Global Express (BD-700) and operate as ICAO airline designator JSN, and telephony JETSUN. According to a Pollution Watch fact sheet, in 2007 Suncor Energy's oil sands operations had the sixth highest greenhouse gas emissions in Canada. While Suncor has reduced the greenhouse gas emissions intensity of its oil sands operations by more than 50% since 1990, total greenhouse gas emissions from
1672-673: The opposition New Democratic Party felt that these corporations geared most of their production to the American market, and as a result little of the benefit of rising oil prices went to Canadians. During debates in the Canadian House of Commons, for example, Tommy Douglas supported the new Crown Corporation by saying: "It should be remembered that the people of Canada have paid billions of dollars to enlarge and enrich foreign oil companies, and only now, belatedly, are we setting up an economic vehicle to develop our petroleum resources for
1716-543: The state. The lawsuit was unique as it was one of the first to be based on these effects on a landlocked area, as opposed to those citing Sea level rise as a factor. In 2020, Suncor reached a US$ 9 million settlement agreement with authorities in Colorado for more than 100 air pollution violations from its Commerce City refinery. In 2024, Suncor settled with state regulators for US$ 10.5 million (a US$ 2.5 million fine and US$ 8 million in mandatory improvements) for violations by
1760-525: Was Canada's 11th largest company and the second-largest downstream company, with important interests in such projects as Hibernia , Terra Nova , and White Rose ; its gas stations remained a presence in most Canadian cities. It owned refineries in Edmonton , Alberta (135,000 bpd) and Montreal , Quebec (160,000 bpd), accounting for 16% of the Canadian industry's total refining capacity. All these facilities are currently run by Suncor. Petro-Canada had
1804-685: Was a budget for the Government of Canada . It was read in the House of Commons of Canada on March 23, 2004, by Finance Minister Ralph Goodale of the governing Liberal Party . It was prepared by Goodale with significant input from Prime Minister Paul Martin , who had previously served as Minister of Finance in the government of Jean Chrétien . The budget contained few surprises: most major initiatives had been announced long beforehand. These included $ 2 billion for health care, money for municipalities, and $ 1 billion to help livestock farmers harmed by
Petro-Canada - Misplaced Pages Continue
1848-515: Was given C$ 1.5 billion in start-up money and easy access to new sources of capital. It was set up in Calgary, despite the hostility of existing oil firms. Its first president was Maurice Strong . The Progressive Conservatives (PCs), then led by Albertan Joe Clark , were opponents of the company, and advocated breaking it up and selling it. However, they were unable to proceed with these plans during their brief time in power in 1979–80. With
1892-893: Was sold to CNRL in September 2018. The company also produces conventional oil , heavy crude oil , and natural gas . In Canada, Suncor operates refineries in Alberta, Ontario and Quebec. The company's 135,000-barrel-per-day Strathcona , refinery runs entirely on oil sands-based feedstocks and produces a high-yield of light oils. A 137,000-barrel-per-day Montreal Refinery produces gasoline , distillates , asphalts, heavy fuel oil , petrochemicals , solvents and feedstock for lubricants. An 85,000-barrel-per-day refinery in Sarnia , Ontario produces gasoline, kerosene , jet and diesel fuels. A 98,000-barrel-per-day refinery in Commerce City, Colorado produces gasoline, diesel fuel and paving-grade asphalt . Suncor's main downstream brand in Canada
1936-511: Was the largest business unit, and much of its assets were part of the former Veba Oel company based in Essen , Germany . In January 2019, Petro-Canada installed electric vehicle charging stations at one of their gas stations in Milton, Ontario , making it the company's first EV chargers. The following month, Suncor announced that it would develop a national network of charging stations serving
#918081