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Suncor Energy Inc
Symbol SU
Shares Issued 1,573,882,333
Close 2019-05-02 C$ 42.61
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Globe/CP say Suncor boss not keen on gov't intervention

2019-05-03 09:04 ET - In the News

The Globe and Mail reports in its Friday edition that Suncor's new chief executive officer says he does not want the Alberta government to carry through on its threat to cut off shipments of oil and refined products to British Columbia over its opposition to the Trans Mountain pipeline extension. A Canadian Press dispatch to The Globe says that following the company's annual meeting in Calgary on Thursday, Mark Little said any such action resulting from the proclamation of Bill 12 by the new United Conservative government this week would create a barrier between Suncor's refinery assets in the Edmonton area and its customers in B.C. He said that Suncor is using the Trans Mountain pipeline to bring gasoline and diesel to the B.C. market and it supports pipeline expansion. "We're hoping that through the government's negotiations this can get sorted out, because the last thing we want to do is have an impediment in serving our customers," Mr. Little said. He added that he views the Alberta bill as "a fairly significant intervention" into a market. Earlier in the day, Mr. Little told analysts on a conference call that Suncor remains opposed to another Alberta government move to intervene in the oil market.

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