Suncor Energy Inc is a leading Canadian oil and gas production company.
It focuses on developing, exploring, and transporting crude oil from the Athabasca oil sands in Canada to international and domestic markets.
The operations involve the extraction of crude oil from the oil sands, followed by industrial refining and processing, where it is transformed into different fuels, heating oils and petrochemicals. Finally, the end products are shipped to key markets across the globe.
The energy firm also invests in the development of renewable energy and operates a network of gas stations.
The diversified business segments include production and exploration segment, oil sands segment, and refining and marketing segment.
Oil Sands Segment
The firm’s principal assets are located in Alberta-based Athabasca oil sands. The company is engaged in developing and producing synthetic crude oil and related products from Canadian resources by upgrading and recovering bitumen from mining and on-site operations.
Production and exploration segment
Suncor Energy focuses on offshore exploration
operations on east coast of Canada. The significant operations include the production and exploration of natural gas and crude oil in Norway, Syria, Libya, and the United Kingdom.
In addition, the company develops and explores liquids and natural gas in Western Canada.
Refining & Marketing Segment
The business division is engaged in the refining of crude oil resources. In addition, it also manages distribution, marketing, and selling of refined fuel and petrochemical products through its retail sites in the United States and its home country.
Suncor Energy also owns a lubricant manufacturing facility in Eastern Canada.
Formerly known as Sun Company of Canada, the company was established in 1919 in Alberta, Canada. It was initially a subsidiary of Sun Oil, now known as Sunoco. However, following a merger with its Canadian refining and retailing unit, the present company was formed in 1979.
Suncor claims to be the first company that explores and produces commercial crude oil from Canada's Athabasca oil sands.
The exploration company has business operations and energy infrastructure in Western Canada, Colorado, Eastern Canada, and the United States.
The company-owned refineries deliver fuel and oil products to retail, industrial and commercial customers.