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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 ...
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 Suncor Energy (Petro Canada) refinery near Edmonton has a capacity of 142,000 barrels per day (22,600 m 3 /d) of crude oil. The Imperial Oil Strathcona Refinery near Edmonton has a capacity of 187,200 barrels per day (29,760 m 3 /d). The Shell Canada Scotford Refinery near Edmonton has a capacity of 100,000 barrels per day (16,000 m 3 /d).
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.
The Oakville Refinery (also known as Petro Canada Oakville Refinery) was a refinery located on the border of Oakville and Burlington in Ontario, Canada. The refinery was commissioned in 1958 by Cities Service Company. It had an initial capacity 25,000 barrels per day (4,000 m 3 /d). In 1963, the refinery was acquired by BP. [1]
On 27 April 1984, BP Resources Canada changed its name to BP Canada Inc., the name of the company prior to the Petro-Canada sale. BP Canada's performance fluctuated through the 1980s. In 1987 its profits were a record $44.6 million, yet, the following year they decreased to $10.3 million.
The Suncor Energy Centre, [5] formerly the Petro-Canada Centre, is a 181,000-square-metre (1,950,000 sq ft) project composed of two granite and reflective glass-clad office towers of 32 floors and 52 floors, in the office core of downtown Calgary, Alberta.
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