Syncrude Company Description
It's no sin to be interested in crude material. Syncrude Canada is the world's largest producer of light sweet crude oil from oil sands, and operates the Syncrude Project, a large oil sand mine and supporting plants that produce value-added light, sweet crude oil. Located in the Athabasca Oil Sands, the Project is the #1 single source of oil in Canada, producing 111.3 million barrels annually. The Syncrude Project is a joint venture operated by Syncrude Canada and owned by seven oil and gas entities, including Canadian Oil Sands Trust, Imperial Oil, and Suncor Energy. In 2009 ConocoPhillips announced plans to sell its 9% stake in order to reduce debt. Syncrude supplies about 13% of Canada's crude oil needs.
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The Company Description provides a historical perspective of Syncrude's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Syncrude's evolution in the marketplace.
