Suncor buys smaller stake in Canadian oil sands miner after TotalEnergies deals with Teck |

27 january (Reuters) – Canada’s Suncor Energy ( SU.TO ) said on Friday it had bought a smaller stake in the Fort Hills oil sands mine in northern Alberta from Teck Resources ( TECKb.TO ), following partner TotalEnergies ( TTEF.PA ). exercised its right of first refusal and announced that it would buy a portion of Teck’s stake in the project.

Suncor announced in October that it had reached an agreement to buy Teck’s 21.3% stake in the bitumen mine, but in December France’s TotalEnergies challenged the deal in the Alberta Court of Queen’s Bench. protest made an application.

On Friday, TotalEnergies announced it would acquire an additional 6.65% stake in Fort Hills, and Suncor told Reuters in an email that it would acquire the rest as previously planned.

Teck did not immediately respond to a request for comment.

Reporting by Nia Williams

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2023-01-27 20:53:17
Source – reuters

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