Who owns fort mcmurray oil

The recent fall in international oil prices—and Western Canadian Select, in particular—has led to calls in Alberta and elsewhere for a federal government bailout. While 10 of the 14 publicly traded oilsands companies have Canadian headquarters, only two of them—Athabasca Oil Corporation and Pengrowth Energy—are majority owned by Canadians. More than 52 percent of "oilsands production" is owned by American shareholders, which is more than twice the level of Canadian ownership, she added.

Another 5. Dale Marshall, national program director of Environmental Defence, said over Zoom that while more industry profits are flowing out of Canada, social costs are increasingly carried by taxpayers and residents.

According to him, more than 50, jobs have been lost in the oil and gas sector, adding that companies were shedding employment before the pandemic, thanks to mechanization. That makes you some serious Narwhal material. I support independent journalism. Published By. Sharon J. See similar stories Alberta. Corporate Influence. Most Shared. Recent Posts. By Jennifer Baltzer and Oliver Sonnentag. View Older Stories. Get The Narwhal in your inbox! Your email Your email.

Join us. The project is the only oilsands mining operation that does not include an integrated upgrader. In all, considering both mining, upgrading and thermal oilsands production, together Imperial Oil, Canadian Natural and Suncor produced over 1.

According to the Alberta Energy Regulator, total oilsands production averaged 2. Now that Calgary council seems firmly committed to a climate emergency discussion, its challenge will be to ensure action trumps…. The White House pledged to discuss a key pipeline that carries Canadian crude through Michigan with the northern neighbour, stressing…. Shell Canada and its North American solar platform Silicon Ranch have announced plans to build a megawatt solar farm adjacent….

Once amalgamation takes place, Ross A. Hennigar becomes president and chief executive officer of Suncor Inc. Suncor celebrates millionth barrel of oil flowing down the pipeline. Hennigar, chief executive officer of Suncor. William R. Loar replaces Hennigar as president and chief executive officer of Suncor Inc. Hennigar's memory.

Thomson becomes president and chief executive officer of Suncor Inc. World crude oil prices collapse. Oil sands plant achieves record annual production level of 55, barrels per day.

A long and bitter labour dispute ensues at the oil sands facility.