Business Administration - Accounting & Financial Planning FIN401 Lecture Notes - Lecture 3: Canadian Oil Sands, Suncor Energy, Syncrude

• School: Seneca College
• Department: Business Administration - Accounting & Financial Planning
• Course: Business Administration - Accounting & Financial Planning FIN401
• Professor: Larry Hurst

Document Summary

A little history: news on oct 5/15: suncor launches hostile bid for canadian oil sands. Oil"s stake in the giant syncrude mining and upgrading project in two deals worth over c billion (. 66 billion): its strategy for future growth relies on building identical smaller thermal plants to help cut costs. Imperial oil is a 69. 6%-owned subsidiary of exxonmobil and one of. Ca(cid:374)ada"s largest i(cid:374)tegrated oil (cid:272)o(cid:373)pa(cid:374)ies, fo(cid:272)usi(cid:374)g o(cid:374) oil a(cid:374)d gas production, refining operations, and the marketing of petroleum products. Imperial"s upstream operations include developing and producing unconventional crude oil through its interest in syncrude and the cold lake and kearl oil sands projects. The company remains the largest refiner of petroleum products in canada. like peers, imperial faces an uphill struggle coping with lower oil prices. Depressed realizations have forced capital spending cuts, stalling the growth pote(cid:374)tial of i(cid:373)perial"s oil sa(cid:374)ds assets.