Energy for the Future – History

Memories of the tough 1980s fade as the exciting 1990s begin. The company transforms from an unprofitable oil and gas company to a dynamic, highly profitable enterprise. The vision of President and Chief Executive Officer Rick George is to be a successful "sustainable energy company."

Numerous changes establish Suncor as a world leader in oil sands mining and processing. Suncor reduces operating costs by switching technology from bucketwheel excavators to truck and shovel mining, and the government changes tax royalties to reduce the risk for oil sands capital investments.

The decade ends with the launch of Project Millennium, a four-year, $3.4 billion expansion to increase production capacity to 225,000 by 2002.

Milestones (1990s)

Milestones (2000s)

Milestones (2010s)

Milestones (1990s)

1990

Board of Directors elects Richard L. George to the Board and appoints him as president and chief operating officer of Suncor.

1991

Richard L. George becomes president and chief executive officer.
Introduction of Sunoco Ultra Clean 94, a new super premium gasoline, replacing Sunoco GOLD™.

1992

On March 18, Suncor becomes a publicly traded company with an initial share price equivalent to $2.38 (accounting for subsequent share splits).
Phasing out of bucketwheels begins. Cost effective and efficient trucks and shovels are the new technology.
Huge bucketwheel machine stands at Fort McMurray’s Oil Sands Discovery Centre as an important piece of oil sands history.

1993

The Government of Ontario divests its interest in Suncor; Sun Company Inc. reduces its holdings to 55%.
Replacement of bucketwheels with trucks and shovels and streamlining of operations results in a reduction of 400 jobs.
Crane Lake Nature Trail opens on reclaimed land at a former Suncor oil sands site in Fort McMurray.

1994

Suncor acquires a new lease across the Athabasca River from the company's existing operations and later develops it into the Steepbank Mine.

1995

Sun Company Inc. of Philadelphia sells its remaining 55% interest in Suncor.
Suncor moves its head office from Toronto to Calgary. With 60% of Suncor's asset base in Alberta, the move brings the head office closer to major operations.

1996

Employees at oil sands celebrate a milestone – 500 million barrels of oil produced since operations began in 1967.
Suncor’s sulphur dioxide emission reduction plant eliminates 95% of the sulphur dioxide from the powerhouse stack emissions.

1997

The word "Energy" is added to the Suncor name to better reflect the company's ability to provide a broad range of energy products.
Suncor starts trading on the New York Stock Exchange under the symbol SU.
Suncor celebrates the 30th anniversary of its oil sands operation.
Oil sands business breaks a production record, producing more than 100,000 barrels of crude oil in a 24-hour period.
Sunoco introduces a new high-performance premium Gold Diesel Fuel to industrial and commercial customers at its new diesel truck stop business.
Sunoco receives a Pollution Prevention Award from the Ontario government for eliminating leaks from underground storage tanks.

1998

Suncor files an application with the Alberta Energy and Utilities Board to develop Project Millennium, an expansion to Suncor's oil sands operation.
Start-up of Plant 25, a $200-million addition to its oil sands upgrading facility.
Sunoco opens its first FleetFuels Cardlock in Ontario. The fuelling centres are activated with security PIN numbers for automated fuelling 24 hours a day, 365 days a year.
Opening of the Steepbank Mine in Fort McMurray – a major step in the company's plan to increase oil production and lower operating costs.
Suncor reaches an international greenhouse gas emission trade agreement with Niagara Mohawk.
Suncor launches the Suncor Energy Foundation, a private charitable foundation fully funded by Suncor, to manage donations to Canadian charitable initiatives.

1999

Construction begins on Project Millennium, an expansion project to increase oil sands production capacity to 225,000 barrels per day by 2002.
TransAlta builds, owns and operates a cogeneration facility at Suncor's oil sands facility. The agreement provides steam and electricity for increased production rates.
Canada’s Outstanding CEO of the Year is Rick George.

Riding on the growth and successes of the past, the new millennium focuses on providing energy for the future. This comes in a variety of forms… acquiring a ConocoPhillips’ refinery in Commerce City, Colorado, the opening of both the "Firebag" in situ oil sands facility in Fort McMurray, Alberta, and the development of wind power projects in Alberta and Ontario.

With the completion of Project Millennium, production capacity at oil sands increases to 225,000 barrels per day. With all the activity so far this decade, the future appears bright.

Milestones (2000s)

2000

Suncor unveils plans to invest $100 million by 2005 in alternative and renewable energy.
Firebag, the company's first in situ oil sands project, is announced.

2001

Commissioning of Project Millennium, a four-year, $3.4 billion expansion of oil sands mining, extraction and upgrading facilities. Capacity doubles to 225,000 barrels of oil per day.
Suncor partners with Enbridge Inc. to open Saskatchewan's first major supply of renewable energy – SunBridge Wind Power Project (17 wind turbines generating 11 megawatts of electricity).
Voyageur growth strategy is announced with a goal to increase oil production to half a million barrels per day by 2012.

2002

Suncor increases total production by 53% to 239,500 barrels of oil equivalent per day – up from 156,000 barrels of oil equivalent per day in 2001.
A new record is set for cash flow, exceeding the billion-dollar mark and generating record financial results for shareholders.
Oil sands facility sets a new record for average production record: 205,800 barrels per day.
Suncor launches safety programs Journey to Zero and the President’s Operational Excellence Awards.
Sunoco Inc. changes company name to Suncor Energy Products Inc.

2003

Suncor acquires ConocoPhillips’ Commerce City, Colorado, refinery, Phillips-branded retail stations and associated storage, pipeline and distribution facilities; 585 employees join the Suncor team.
Suncor is first to comply with the sustainability reporting guidelines of the Global Reporting Initiative with its 2003 Report on Sustainability.

2004

Suncor celebrates the official opening of the Firebag in situ oil sands facility. The facility has significant environmental benefits – disturbing less land than open pit mining and using recycled water.
Suncor initiates approximately $1 billion worth of projects to expand presence in the downstream industry.

After 30 years, Suncor plants its three-millionth tree within the 900+ hectares of reclaimed land at the Steepbank Mine site.

Suncor celebrates the opening of second wind power project in Magrath, Alberta, producing 30 megawatts of electricity from 20 wind turbines.

2005

Devastating January fire encases the upgrader in ice and cuts production by half for eight months. Thankfully, no injuries occur.
Commissioning of the oil sands upgrading expansion increases production capacity to 260,000 barrels per day of upgraded crude oil.
Suncor buys Valero Energy refinery, next to Commerce City, Colorado plant. Capacity increases to 90,000 barrels per day and 140 employees join Suncor.
Construction begins on a $120 million ethanol facility near Sarnia, Ontario to produce 200 million litres of ethanol per year then blended into Sunoco gasoline.

Suncor invests $3 million (largest in the company’s history) with the Northern Alberta Institute of Technology in Edmonton to address the shortage of skilled tradespeople in Alberta.
Suncor announces its third Alberta wind power plant near Taber, Alberta (30 megawatts) and first Ontario project near Ripley (76 megawatts).

2006

On January 4, Suncor reaches a significant milestone at its oil sands facility – the sale of its billionth barrel of oil sands crude since operations began in 1967.
The first Suncor Energy-branded commercial "FleetFuels Cardlock" opens in Fort McMurray to meet the growing demand for high-quality, low sulphur diesel fuel and gasoline in the Wood Buffalo region.
Suncor receives regulatory approval to construct and operate a third oil sands upgrader. Part of the Voyageur growth strategy, the upgrader is a key component of increasing oil production to more than half a million barrels per day by 2012.

2007

Suncor and partner Acciona Wind Energy begin construction of a 76-megawatt wind power project near Ripley, Ontario.
Suncor initiates the regulatory approval and stakeholder consultation process on plans to develop an expanded oil sands mining operation.
Suncor ties for first place in the oil and gas category of the Globe & Mail Report on Business Magazine’s fourth annual Canadian corporate social responsibility ranking.
Suncor is named one of the World’s Most Ethical Companies by Ethisphere Magazine, a publication dedicated to illuminating the correlation between ethics and profit.

Suncor is named to the Dow Jones Sustainability World Index for the ninth consecutive year.
Employees celebrate the 40th anniversary of the oil sands operation, reflecting on how far the business has come and the bright future ahead.

2008

Shareholders approve a stock split of the company's common shares on a two-for-one basis.
Suncor and the Fort McKay First Nation establish a business incubator to promote economic development and entrepreneurship in the community of Fort McKay.
Suncor announces a $6 billion capital spending plan. Approximately $3.6 billion in spending is targeted to Suncor's Voyageur oil sands growth strategy.
The Suncor Energy Foundation celebrates its 10th anniversary. Since its inception, the Foundation has contributed more than $57 million to registered Canadian charitable organizations.

2009

On March 23, Suncor and Petro-Canada announce their intention to merge.
Spending with Aboriginal companies in the Regional Municipality of Wood Buffalo surpasses $1 billion mark.
Competition Bureau approves the proposed merger of Suncor and Petro-Canada.
The merger of Suncor and Petro-Canada becomes effective August 1, creating Canada's largest energy company and the fifth largest North American-based energy company.

As the 2000s come to a close, Suncor embarks on a new and exciting chapter. While much has changed, the company’s core identity remains unaltered. Suncor continues to be focused on responsibly developing Canada’s oil sands in a way that enhances social and economic benefits while striving to minimize environmental impacts.

With the merger complete, a larger, stronger and more financially flexible Suncor is in a position to compete globally while continuing to invest in both innovation and growth.

Milestones (2010s)

2010

The ERCB approves Suncor’s tailings management plan which includes expanded implementation of its TROTM technology; a process expected to significantly accelerate the rate of land and tailings reclamation.
The 2010 Winter Olympic Games are held and Suncor, through its Petro-Canada brand, is the National Oil and Gas Partner.

An industry milestone is achieved when Suncor becomes the first oil sands company to complete surface reclamation of a tailings pond. The area, formerly known as Pond 1, is renamed Wapisiw Lookout to pay tribute to the history of the region.
Suncor enters into a strategic partnership with Total E&P Canada Ltd., to jointly develop the Fort Hills and Joslyn oil sands mining projects and restart construction of the Voyageur upgrader.

Suncor unveils its ten-year growth strategy with a target to increase production to more than one million barrels of oil equivalent per day.

2011

Civil unrest escalates in Libya. Suncor withdraws from the region, evacuating all expatriate staff and offering support for non-Suncor evacuation efforts.
Capacity at the Sarnia-based St. Clair Ethanol Plant is doubled making it Canada’s largest biofuel production facility.
Many sanctions in Libya are lifted and Suncor takes preliminary steps to resume production with joint venture operator Harouge.

Edmonton refinery employees celebrate 60 years of operations.
Suncor celebrates the one-year anniversary of Wapisiw Lookout by planting the five-millionth tree at its oil sands site.
After more than 20 years as Suncor’s President and CEO, Rick George announces his intention to retire following the company’s Annual General Meeting in May of 2012.
Chief Operating Officer, Steve Williams, is appointed President and a member of Suncor’s Board of Directors. He will assume the role of CEO following the retirement of Rick George in May 2012.
Suncor complies with sanctions on Syria by declaring force majeure and suspending operations in the country.

Rick George is named 2011 Canadian Energy Person of the Year by the Energy Council of Canada.
Record earnings and production are achieved in 2011.

2012

With the 2012 London Olympic Games on the horizon, Suncor, the proud owner of Petro-Canada, renews its partnership with the Canadian Olympic Committee for an additional four years.
Rick George retires from Suncor. Steve Williams becomes the company’s chief executive officer.
The Hebron project is sanctioned. The Hebron field is located in the Jeanne d'Arc Basin offshore of Newfoundland and Labrador. Suncor Energy holds a 21% working interest in the project.
Suncor is among 12 companies to start Canada’s Oil Sands Innovation Alliance (COSIA), a scientific organization focused on accelerating the pace of improving environmental performance in Canada’s oil sands.
MacKay River, the company’s first in situ oil sands project, celebrates 10 years of operations.

2013

Suncor acquires Total E&P Canada Ltd.’s interest in the Voyageur Upgrader Limited Partnership’s assets and announces that the Voyageur Upgrader project will not proceed.
Suncor sells the conventional portion of its natural gas business in Western Canada to a partnership between Centrica plc and Qatar Petroleum International.
One of the first reclaimed fen wetland watersheds in the world, Suncor’s Nikanotee fen, opens.
Fort Hills, one of the best undeveloped oil sands mining assets in Alberta’s Athabasca region, is sanctioned. Fort Hills co-owners are Suncor Energy, Total E&P Canada and Teck Resources Limited.
Construction of a rail offloading facility to enable receipt of inland crudes at the Montreal refinery is completed. The Montreal refinery receives its first shipment in early December.

2014

Golden Eagle, an oilfield in the UK North Sea, achieves first oil. Suncor holds a 26.69% working interest in the development.
Suncor and five industry partners approve an estimated $165 million funding commitment to sanction the construction of a dedicated Water Technology Development Centre (WTDC) which will be used to test water treatment and further develop recycling technologies.
Suncor’s 180,000 bbls/d Firebag in situ oil sands project celebrates 10 years of operations.
Suncor and The Pioneer Group Inc. announce the sale of 393 Pioneer-branded retail gas stations in Ontario and Manitoba to Parkland Fuel Corporation.
Suncor is awarded Silver-level accreditation in Progressive Aboriginal Relations (PAR) from the Canadian Council for Aboriginal Business (CCAB).

2015

Suncor is one of eight COSIA companies that support the US$20 million NRG COSIA Carbon XPRIZE which is designed to accelerate new technologies to convert CO2 emissions into valuable products.
Suncor reaches an agreement with TransAlta Corporation to exchange Suncor’s 20 megawatt Kent Breeze wind power facility located near Thamesville, Ontario and its 51% interest in the 88 megawatt Wintering Hills wind power facility near Drumheller, Alberta for TransAlta's 376 megawatt Poplar Creek cogeneration facilities which provide steam and power for Suncor's Oil Sands Base plant in Fort McMurray, Alberta.
Suncor, together with other oil sands producers and environmental organizations, formally supports the Government of Alberta’s Climate Leadership Plan which includes a broad-based carbon price along with an overall emissions limit for the oil sands.
Suncor makes an offer to acquire all of the outstanding shares of Canadian Oil Sands Limited (COS).

2016

Suncor completes the acquisition of Canadian Oil Sands Limited (COS), increasing its working interest in Syncrude to 48.74%.
Along with the BC Cleantech CEO Alliance, Suncor and Cenovus Energy co-found Evok Innovations. Suncor commits up to $50 million in funding over 10 years bringing together British Columbia’s cleantech industry and Alberta’s oil and gas sector to advance new technologies directed at environmental and economic improvements for the oil and gas sector.
The largest natural disaster in Canadian history, the forest fires in the Regional Municipality of Wood Buffalo, results in the mandatory evacuation of Fort McMurray. In the first three days that followed, Suncor safely transports approximately 10,000 people safely out of the region, including employees, their families and Fort McMurray residents.
Suncor purchases an additional 5% working interest in Syncrude from Murphy Oil Corporation's Canadian subsidiary.
Suncor announces its new long-term sustainability goals – to reduce its greenhouse gas emissions (GHG) intensity by 30% by 2030 and to strengthen its relationships with Aboriginal Peoples in Canada.
Suncor, through its Petro-Canada brand, announces its continued support as a National Partner of the Canadian Olympic Committee (COC) and a premier partner of the Canadian Paralympic Committee through the 2024 Olympic and Paralympic Games.
Suncor purchases a 30% participating interest in the Rosebank project, considered one of the best and largest remaining undeveloped resources in the U.K. North Sea.
Suncor sells its Petro-Canada Lubricants Inc. (PCLI) business to a subsidiary of HollyFrontier Corporation (HollyFrontier).
The Hibernia oilfield, located in the Jeanne d’Arc basin offshore of Newfoundland & Labrador, produces its billionth barrel of produced oil. Suncor holds a 20% interest in the development.

2017

Suncor sells its 50% interest in the Cedar Point wind facility.
Suncor releases its climate report which provides information on how the company assesses climate risk and outlines its plans to build long-term resilience in a low-carbon economy.
Former Suncor president and chief executive officer Rick George passes away.
Suncor receives gold certification in Progressive Aboriginal Relations (PAR) from the Canadian Council for Aboriginal Business (CCAB).
Suncor celebrates the 50th anniversary of launching the world’s first commercial oil sands operation on September 30, 1967.
Terra Nova achieves its 400th million barrel of produced oil.
Fort McKay First Nation (FMFN) and Mikisew Cree First Nation (MCFN) complete the acquisition of a 49% partnership in Suncor's East Tank Farm Development, the largest business investment by a First Nation entity in Canada.
Suncor purchases a 41% equity interest in PetroNor, a petroleum products distributor across the James Bay and Abitibi-Témiscamingue regions of Quebec.
First oil is produced at the Hebron oil field which is located offshore Newfoundland and Labrador in the Jeanne d'Arc Basin. Suncor holds a 21% interest in the project.