The world's
largest oil sands producer, Suncor also has conventional oil and gas operations in the North Sea, North America, Libya and Syria.
Despite the layoffs and poor performance in its first quarter, Suncor, Canada's
largest oil sands producer, continues pumping out crude, outputting 602,400 barrels per day during the first quarter — up 10 % from the same period last year.
Since then, China's state owned refining company, Sinopec paid more than $ 4.5 billion for a 9 % stake in Syncrude,
the largest oil sand producer in the province.
Not exact matches
Suncor Energy Inc., the world's second -
largest oil -
sands producer, said first - quarter profit fell 23 percent on lower output, higher costs and absence of a gain from insurance settlements a year earlier.
Suncor is the world's
largest producer of bitumen, and owns and operates an
oil sands upgrading plant near Fort McMurray, Alberta, Canada.
Most of the
oil shipped on the line will come from Canadian
oil sands producers, which have been under from some U.S. environmental groups and legislators for boosting greenhouse gas emissions because of expanding production in the
oil sands — a Florida - sized region of northern Alberta that contains the
largest oil reserves outside the Middle East.
Currently, Alberta prices GHGs from
oil sands producers and other
large emitters using its Specified Gas Emitters Regulation (SGER), which came into force in 2007.