Suncor has lagged the TSX energy index by almost 40pc
Suncor getting back on track
New management looks to focus on oil sands firm’s core upstream and downstream business
Calgary-based Suncor Energy has undergone big changes since coming under siege by Elliott Investment Management in April 2022, having conceded to most demands of the US activist investor to unlock greater value for its long-suffering shareholders—including significant acquisition and disposition activity. Over the past five years, Suncor has lagged the TSX energy index by almost 40pc. Elliott had criticised Suncor’s management for years for missed oil sands production targets, high costs, a lack of asset focus, and employee fatalities and safety concerns—all stemming from what it said was “a slow-moving, overly bureaucratic corporate culture”. But Suncor appears to have turned the corner, ac
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
