Suncor announced a strategic review of its Petrocanada retail network
Suncor cuts deal with activist investor
The embattled producer has sought a truce with Elliott Investment Management and brought in new blood to the board
Calgary-based Suncor Energy has now ceded to most demands of US activist investor Elliott Investment Management. The firm has been subject to an intense campaign since the end of April, with Elliott calling for change to unlock greater value for its shareholders. Prior to Elliott sending a public letter and presentation to Suncor, the company’s stock price had significantly underperformed its oil sands rivals Canadian Natural Resources, Cenovus Energy and Imperial Oil over the previous two years. Suncor’s stock price has since jumped by 25pc. Elliott criticised Suncor’s management for years of missed oil sands production targets, high costs, and employee fatalities and safety concerns—all st
Also in this section
15 August 2025
US secondary sanctions are forcing a rapid reassessment of crude buying patterns in Asia, and the implications could reshape pricing, freight and supply balances worldwide. With India holding the key to two-thirds of Russian seaborne exports, the stakes could not be higher
11 August 2025
The administration is pushing for deregulation and streamlined permitting for natural gas, while tightening requirements and stripping away subsidies from renewables
8 August 2025
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
