Petro-Canada Had Its Roots In First Oil Crisis

摘要

Petro-Canada, the former Crown corporation that is merging with Suncor Energy Inc. to form Canada's largest oil company, was created by an Act of Parliament in 1975 to create a strong Canadian presence in the oil industry and to identify new Canadian energy resources.It began operations the following year and was wholly-owned by the government of Canada until 1991 when it made its initial public offering with the sale of 19.5% of the government s holdings at a price of $13 per share. Over the years, the government reduced its share with the final 19% ownership sold off in 2004.