Canada’s Suncor Energy SU-T is continuing talks with French oil major TotalEnergies TTE-N about buying its nearly one-third stake in the Fort Hills oil sands site, Suncor’s CEO said on Tuesday.
Chief Executive Rich Kruger, who added he expects a resolution to the talks this year, said Suncor prefers to own 100 per cent of its facilities. Canada’s second-largest oil producer is looking to increase its bitumen supplies to replace its aging Base Mine.