Suncor’s key UKCS asset is its 29.9pc stake in the Buzzard field
Suncor in no rush on UKCS sale
The Canadian producer’s exit from Norway may not be closely followed by divestment across the maritime border
Proceeds from the sales process Canada’s Suncor Energy has initiated for its UK continental shelf (UKCS) upstream assets are not included in the firm’s expectations of 2022’s free cash flow (FCF) after capex, dividends and income from divestments, suggesting it is not seeking a swift deal. Analysts feel it is right to take its time, as buying interest could be strong. “The UK will not be in” the divestment income element of 2022 FCF calculations, says Suncor CFO Alister Cowan, “it will be a 2023 number”. The firm is, though, factoring in c.$400mn of gross proceeds from the sale of its Norwegian continental shelf (NCS) assets to private equity-backed new entrant Sval Energi, which it expects
Also in this section
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
9 March 2026
Energy sanctions are becoming an increasingly prominent tool of US foreign policy, with the country’s growth in oil and gas production allowing it to impose pressure on rivals without jeopardising its own energy security or that of its allies, argues Matthew McManus, a visiting fellow at the National Center for Energy Analytics
