Get access to our best features
Get access to our best features
Published 10 months ago

ConocoPhillips to buy rest of Canada's Surmont oil site, bumping Suncor

  • ConocoPhillips is buying TotalEnergies' 50% stake in the Surmont oil facility for $3 billion, giving it full ownership and outbidding Suncor Energy.
  • ConocoPhillips's decision to exercise its right of first refusal is a setback to Suncor's plans to boost its long-term bitumen supplies.
  • ConocoPhillips expects the transaction to add $600 million of annual free cash flow in 2024 and plans to fund the deal through cash, financing, or a combination.
Insights by Ground AI
Does this summary seem wrong?

0 Articles

All
Left
Center
Right
Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/yearSubscribe
Ground News Article Assistant
Not enough coverage to generate an Article Assistant.

Bias Distribution

  • 73% of the sources lean Left
2024 US Election NewsEverything you need to know about 2024, including updates on candidates, news blindspots, and reliable coverage of the biggest issues.
Explore coverage
Factuality

To view factuality data please Upgrade to Premium

Ownership

To view ownership data please Upgrade to Vantage

Sources are mostly out of (0)