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Suncor Energy avoids $1.3-billion tax bill sought by CRA

Suncor Energy says it has successfully defended its accounting practices and avoided a $1.3-billion tax bill sought by the Canada Revenue Agency.

The Calgary-based company said Monday that the Tax Court of Canada had ruled in its favour on a tax dispute stemming from how it accounted for losses in 2007. 115 more words

Money

Suncor sees increased production, lower capital spending

Suncor Energy Inc. says production is expected to increase next year, but the company plans to reduce its capital spending.

The energy company says average production for 2017 is expected to be between 680,000 to 720,000 barrels of oil equivalent per day. 72 more words

Money

Warren Buffett's Berkshire Hathaway sells its stake in Suncor Energy

CALGARY – Warren Buffett has sold the rest of his holdings in Suncor Energy Inc.

According to filings with the U.S. Securities and Exchange Commission, Buffett’s… 67 more words

Money

Third quarter results from oil companies show growth from same time last year

There seems to be some good news coming from the province’s oil sector.

Husky Energy reported third quarter results showing $175 million in free cash flow and approximately $1.4 billion in net earnings, which is up dramatically from a deficit of $4 billion from the same time last year. 416 more words

Economy

Suncor production recovery after Fort McMurray wildfire leads to $392M net profit

Oilsands giant Suncor Energy is reporting net third-quarter earnings of $392 million compared with a net loss of $376 million in the same period of last year. 230 more words

Canada

Varcoe: After two years of oil trouble, OPEC strikes deal — but don't bet on lasting truce

For at least two years, OPEC has engaged in a gruelling price war to claim market share and drive competitors from the market.

Low oil prices have inflicted deep pain on high-priced petroleum producers from Calgary to Caracas. 800 more words

Politics

WestJet, Suncor announce multi-year deal to fly employees to Northern Alberta oilsands

WestJet (TSX:WJA) has reached a multi-year deal with Suncor Energy (TSX:SU) to fly employees and contractors to and from its oilsands operations in Northern Alberta beginning in early November. 156 more words

Money