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Article: Canada: Suncor begins housecleaning Petrocan assets.
- Article from:
- TendersInfo
- Article date:
- September 10, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: manish03
Suncor Energy Inc. has begun sorting out the chaff from its portfolio of oil projects, kicking off a process that will determine the shape and direction of Canada's largest energy company for years to come as it absorbs Petro-Canada.
Suncor cancelled plans for a heavy-oil upgrading unit in Montreal, saying current market economics don't support the $1-billion project. While widely expected, the move marks the first in a series of decisions likely to be announced over the next few months, as the company focuses on those projects with the best returns and best fit for the organization following the Petrocan merger.
The demise of ...