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Canada continues to support efforts to build a stable, democratic and prosperous Libya, in cooperation with the United Nations (UN) and other international partners. Canada is supportive of ongoing efforts to work towards political reconciliation in Libya, facilitated by the UN, for the benefit of all Libyans.
This was in response to Foreign Affairs Minister Lawrence Cannon earlier promising a tongue-lashing to Libya for the hero's welcome that it extended to a man convicted in the 1988 Lockerbie bombing. While the Libyan government did not follow through on its threat, it did issue an order on 30 September 2009 for Petro-Canada to cut production by ...
Petro-Canada (colloquially known as Petro-Can) is a retail and wholesale marketing brand subsidiary of Suncor Energy. Until 1991, it was a federal Crown corporation (a state-owned enterprise ). In August 2009, Petro-Canada merged with Suncor Energy, with Suncor shareholders receiving approximately 60 percent ownership of the combined company ...
Petro-Canada has been met with opposition mainly from Alberta, home to one of the main oil patches in Canada. After negotiating a royalty increase on oil and price increases for natural gas, Lougheed asserted Alberta's position as the centre of Canada's petroleum industry. [34] Alberta had since been the main source of oil in Canada since the ...
On March 23, 2009, Suncor announced its intent to acquire Petro-Canada. [11] [12] This merger created a company with a combined market capitalization of C$43.3 billion. On June 4, 2009, a 98% approval rate was reached by Suncor's shareholders for the acquisition of Petro-Canada and the Competition Bureau approved the merger on June 21, 2009.
Suncor Energy completed merger with Canada's 11th largest company Petro Canada on August 1, 2009 in a 21 billion dollar deal to form the largest oil and second largest company overall in Canada. [66] [67] At the time of the merger it had a market capitalization of $43 billion and held the biggest position in Alberta's oil sands. [68]
The term "petro-aggression" has been used to describe the tendency of oil-rich states to instigate international conflicts. [2] There are many examples including: Iraq's invasion of Iran and Kuwait; Libya's repeated incursions into Chad in the 1970s and 1980s; Iran's long-standing suspicion of Western powers.
Libya responded by concluding its third Exploration and Production Sharing Arrangements (EPSA-III) in 1988, including agreements with Rompetrol, the Romanian Oil Company, Royal Dutch Shell, Montedison, International Petroleum Corporation of Canada, INA-Naftaplin, OMV, Braspetro and Husky Oil. The agreements included expenditure guarantees by ...