06:28:02 EDT Wed 15 May 2024
Enter Symbol
or Name
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Athabasca Oil Corp
Symbol ATH
Shares Issued 591,944,374
Close 2023-07-06 C$ 2.94
Market Cap C$ 1,740,316,460
Recent Sedar Documents

Globe/wire say Suncor, rivals hear supply not the issue

2023-07-07 08:09 ET - In the News

See In the News (C-SU) Suncor Energy Inc

The Globe and Mail reports in its Friday, July 7, edition that the bosses of global energy companies this week urged governments to shift the focus to limiting oil demand to reduce emissions, rather than pressuring producers to curb supply, which they say serves only to increase prices. A Reuters dispatch to The Globe reports that some Western governments have announced plans to scale back or halt oil developments and last year, they increased taxes on oil and gas producers after the Ukraine war led to a surge in their profits. However, OPEC ministers and executives from oil companies told a two-day conference in Vienna that governments needed to turn their attention from supply to demand. BP boss Bernard Looney said: "We must invest in the energy system of today as unpopular as it sounds. ... If we don't, we will have a mismatch of supply and demand." The Organization of the Petroleum Exporting Countries has withheld media access to reporters from Reuters, Bloomberg and the Wall Street Journal to cover the event, which ends on Thursday. Climate activists and some investors have pressured oil and gas producers to shift their portfolios toward zero-carbon renewable energy to tackle global warming.

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