Investors Benefit In Surprise Move From Canadian Oil Major

6 Jul 2017   Tar Sands

While many oil companies doubled down on debt to maintain or even increase dividends while profits were hard to come by in the ‘lower-for-longer’ oil price world, Canada’s biggest oil producer—Suncor Energy—is winning the hearts and minds of investors and stock analysts by not making capital investments in new projects in its core business: Canada’s oil sands. “We’ve decided to let the shareholders see the cash,” Suncor’s chief executive officer Steve Williams told The Wall Street Journal in an interview . “We can continue this model for a lot longer,” the manager noted. Suncor is currently finishing two major growth projects , Fort Hills and Hebron, slated for first oil at the end of 2017, but following years of investment in oil sands projects, Suncor is now pausing spend into new company-built projects, and is channeling more of its cash into shareholders’ pockets. “Let me be clear – for […]

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