Suncor Energy to acquire oil sand assets from TotalEnergies for CAD6.1bn.

Suncor Energy, an integrated energy company specialized in production of synthetic crude from oil sands, agreed to acquire oil sand assets from TotalEnergies, an energy company that produces and markets oil and biofuels, natural gas and green gases, renewables, and electricity for CAD6.1bn. "This transaction represents a major step in securing long-term bitumen supply to our Base Plant upgraders at a competitive supply cost. These are valuable oil sands assets that are a strategic fit for us and add long-term shareholder value. The acquisition also introduces flexibility and optionality into our long-range capital plan, providing us with further discretion in respect of the timing and scope of future oil sands developments," Rich Kruger, Suncor President and CEO.