According to Suncor Energy CEO Steve Williams, the 350K-b/d upgrader, a j.v. between Canadian Oil Sands (COS), CNOOC Ltd. subsidiary Nexen, Imperial Oil, Mocal Energy, Murphy Oil, Suncor and Sinopec, is experiencing "operational challenges" that could be resolved should Suncor's hostile takeover bid for Canadian Oil Sands is successful. Suncor has offered C$4.3B ($3.27B) for COS, which is the largest stakeholder in Syncrude Canada at 37%, but the offer has so far been rejected with COS saying Suncor has "substantially undervalued" the company.
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