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Suncor and Petro-Canada Agree to $15 Billion Merger
SUGAR LAND--March 24, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--Suncor Energy Incorporated (NYSE:SU) (Calgary, Alberta) and Petro-Canada (NYSE:PCZ) (Calgary) have agreed to a $15 billion merger, operating under the Suncor name, that is expected to be completed in the third quarter of 2009. As part of our North American Industrial Database, Industrial Info is tracking 22 active Suncor projects worth more than $7.1 billion. If the proposed merger is completed, the new Suncor could inherit 19 active Petro-Canada projects worth nearly $17 billion, along with 21 projects worth $13.5 billion that were either put on hold or suspended. The database includes details on more than $15 billion worth of development activity at the Fort Hills Oil Sands Mine in Alberta.
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Industry Segment: Petroleum Refining
Word Count: 448 Words
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