Related Articles
Forward article link
Share PDF with colleagues

Suncor doubles down with Canadian Oil Sands takeover

The company’s $4.5bn deal for Canadian Oil Sands makes it the undisputed champion of the oil sands. It’s a big bet on a recovery in prices

Capitulation and retreat: they aren’t kind words but they describe the situation facing Canadian oil sands producers in the face of sub-$30 oil prices. Now the strongest of the plays’ producers has pounced on a rival – and taken a big gamble that oil prices will eventually justify the move. On 18 January, Canadian Oil Sands, the largest working-interest owner in the world’s largest oil sands mine, Syncrude Canada, finally gave up after a prolonged and acrimonious hostile takeover bid from one of its partners, Suncor. The defeat represented the first major piece of M&A activity in global oil this year, and probably won’t be the last. After a bitter fight which saw Canadian Oil Sands tak

Also in this section
PdV’s cash concerns
15 August 2017
The Venezuelan company's plunging revenues show it is still struggling with lower prices and falling output
Venezuela living on the edge
2 August 2017
Venezuela's national oil company is under pressure from low prices, plummeting output and several self-inflicted wounds
Indian battleground
2 August 2017
Rosneft is expanding its reach in Asia, competing against Middle Eastern exporters