Suncor Energy Inc at a Glance


  • Good pay
  • Great benefits, including l
  • ots of paid time off


  • Long hours for many employees
  • Bitter cold in Alberta in the winter

The Bottom Line

  • Suncor Energy is large and stable and pays well, but employees grumble a lot about management.

About Suncor Energy Inc

Suncor Energy takes a shine to the cold of Canada. That country's largest energy company explores for, processes, and markets oil and natural gas. In 2012 it reported net proved and probable reserves of 1.8 billion barrels of synthetic oil, 163 million barrels of bitumen, 159 million barrels of oil, and 619 billion cu. ft. of natural gas. Suncor Energy was first company to produce commercial crude oil from Canada's Athabasca oil sands. It also holds 12% of Syncrude. Its Sunoco unit refines crude oil and processes and distributes fuels, petrochemicals, and heating oils, invests in renewable energy and operates a network of gas stations. In 2015 Suncor Energy offered to buy Canadian Oil Sands for $3.3 billion.

Geographic Reach

The company has operations in Canada, Germany, Libya, the Netherlands, Norway, Syria, the UK, and the US. In 2012 Canada accounted for 79% of Suncor Energy's revenues.


Suncor Energy is one of Canada's largest oil sands producers. It oil sands assets include a 36% interest in the Joslyn North mine, 41% in the Fort Hills mine, and 51% of the Voyageur upgrader project, as well as a 12% stake in the Syncrude oil sands mining venture.

The company also has conventional natural gas assets as well as international and offshore oil exploration and production holdings. In addition to its production, refining, and marketing operations across Canada (and in Colorado) the company has exploration assets in Libya, Norway, Syria, and the UK. (In 2011 Suncor Energy suspended its operations in Syria in light of international sanctions imposed against that country).

The company has four refineries (in Alberta, Ontario, Quebec, and Colorado -- 460,000 barrels of combined capacity per day) and a network of 1,460 Petro-Canada retail gas stations.

To meet clean air regulations the company is also investing in green energy. It has six wind power projects (255 MW) and operates Canada's largest biofuel plant (412 million liters of ethanol per day) at St.Clair, Ontario.

Financial Performance

Suncor Energy’s revenues declined by $176 million in 2012 as a result of lower product stemming from planned off-station maintenance programs at Terra Nova and related delays in get back online, planned maintenance at White Rose oilfield in Nova Scotia, the suspension of oil and gas operations in Syria, and declines in production from the North America Onshore segment. These factors were partially offset by the resumption of operations in Libya. Oil Sands oil prices declined in 2012, due primarily to lower premiums for sweet crude oil, and wider light/heavy differentials that impacted prices for sour crude oil and bitumen.

The company reported a $35% drop in net income in 2012 due to lower reveneus and an increase in operating expenses.


Oil sands, which hold deposits of heavy bitumen, make up nearly a third of Canada's oil production and Suncor Engery's long term business focus is developing synthetic oil from its oil sands holdings in Alberta.  Suncor Energy plans to produce 1 million barrels per day of oil equivalent from its oil sands holdings by 2020.

To focus on its growth markets and to pay down debt, in 2013 the company agreed to sell its conventional natural gas business in Western Canada to a Centrica and Qatar Petroleum partnership for $1 billion.

Company Background

To further develop its oil sands assets, in 2010 the company formed a strategic alliance with TOTAL. As part of the deal, France-based TOTAL paid Suncor Energy about $1.7 billion to acquire 19% of Suncor Energy's 60% interest in the Fort Hills mining project and a 49% stake in the Voyageur Upgrader project near Fort McMurray. Suncor Energy acquired about 37% of TOTAL's stake in the Joslyn project.

Boosting its profile as an integrated energy company, in 2009 the company acquired Petro-Canada in a $15 billion deal. The acquisition created an energy behemoth with extensive holdings in oil sands, solid conventional exploration and production assets, and a major refining and retailing network. Following the Petro-Canada deal the company divested about $1.5 billion of non-core assets in Western Canada, the US, Trinidad and Tobago, and the North Sea. In 2010 Suncor Energy sold its North Sea exploration assets (of Petro Canada Netherlands) to Dana Petroleum for $393 million. Later that year it sold a pair of natural gas properties in Alberta to a subsidiary of Abu Dhabi National Energy Company for $285 million. It also sold its Wildcat Hills assets, which produce some 80 million cu. ft. of natural gas per day, to Direct Energy for about $360 million.

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Suncor Energy Inc

150 6 Ave Sw
Calgary, AB
Phone: 1 (403) 296-8000
Fax: 1 (403) 296-3030


  • Employer Type: Public
  • Stock Symbol: SU
  • Stock Exchange: NYSE
  • President and CEO: Steven W. Williams
  • Chairman: James W. Simpson
  • President and CEO: Steven W. Williams

Major Office Locations

  • Calgary, AB

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