2019 – Present day

Three workers on the Montreal refinery dock at sunrise

Charting a path to a net-zero world to realize our shared climate objectives.

It takes a lot of effort to produce the energy that keeps the world running. We’re on a path to grow our business in low greenhouse gas (GHG) fuels, electricity and hydrogen while sustaining and optimizing our existing hydrocarbon business and transforming our GHG footprint.

Explore the milestones and events in our history from 2019 to the present day.

A ribbon cutting ceremony for the opening of a Petro Canada electric charging station.

2019

  • Petro‑Canada, a Suncor business, completed building 50 electric vehicle (EV) chargers across Canada. This is Canada’s first coast-to-coast EV charging network that provides fast-charging to Canadian EV drivers.
  • Steve Williams retires from Suncor after 16 years – seven years as chief executive officer (CEO). Mark Little becomes the company’s CEO at the Annual General Meeting.
  • Suncor announces $1.4 billion investment in two low-carbon power cogeneration units that will replace the coke-fired boilers at Oil Sands Base Plant. They will generate 800-megawatts of power that will be transmitted to Alberta’s energy grid, equivalent to 8% of Alberta’s current electricity demand.

 

  • Suncor and joint venture partners sanction the Terra Nova Asset Life Extension project. The project will extend the production life of the Terra Nova facility by 10 years and provide nearly 80 million barrels of additional resource.
  • Oda, a 35,000-barrel-per-day project off the coast of Norway, safely starts oil production, almost five months earlier than planned and under budget. Suncor Energy Norge AS is a 30% partner in the Oda field.
  • Suncor invests in Enerkem, a waste-to-biofuels chemical producer, as part of a $76.3 million equity investment. Suncor also invests an additional $50 million and provides technical resources to support operations in Edmonton, Alta.
  • Suncor sanctions phase one of two of the Forty Mile Wind Power Project in Alberta expected to produce 200 megawatts of energy.
  • The Fort McMurray Women Engage Employee Inclusion Network launches.

2020

  • Suncor files a regulatory application for Base Mine Extension, a proposed oil sands mining project directly south of Base Mine operations, with a production capacity of 225,000 barrels per day of bitumen froth over 25 years.
  • Suncor invests $15 million in LanzaJet, Inc. Launched by LanzaTech, LanzaJet will produce sustainable aviation fuel.
  • Suncor receives regulatory approval for an amendment submitted in 2019 to increase Meadow Creek East production capacity from 80,000 barrels per day to 88,000 barrels per day (44,000 barrels per day per phase). Suncor also receives approval for Meadow Creek West for a production capacity of 40,000 barrels per day.
  • Suncor receives gold level certification in Canadian Council for Aboriginal Business’s Progressive Aboriginal Relations (PAR) program for a second time.
  • Petro‑Canada launches the Petro‑Canada CareMakers Foundation™ to support family caregivers across Canada.
Suncor employees in rainbow clothing are pictured at a Calgary event for Workplace Inclusion Networks.

 

  • Calgary Women Engage, Calgary Workplace Inclusion Network (WIN) and the Regional Municipality of Wood Buffalo WIN, all Employee Inclusion Networks (EIN), launch throughout 2020. Prism, Suncor’s LGBTQ2S+ EIN, formally launches on National Coming Out Day.
  • Suncor announces it has an agreement in principle to assume operatorship of Syncrude by end of 2021.
  • Enerkem announces a proposed biofuel project in the Greater Montréal area. The Varennes Carbon Recycling facility will convert more than 200,000 tonnes of commercial, industrial and forestry waste into 125 million litres of biofuels each year. Suncor is a project partner.
  • As the COVID-19 pandemic spreads globally, Suncor takes various measures to keep workers and Petro‑Canada customers safe from the virus. A large portion of workers across the company begin to work remotely and additional safety precautions are implemented for essential workers at our operational sites to help stop the spread.

2021

  • Investment in carbon capture. During the first quarter of 2021, Suncor announced an equity investment in Svante Inc., a Canadian carbon capture company.
  • Suncor launches goal to become a net-zero GHG emissions company by 2050 (on emissions produced from running its facilities, including those in which it has a working interest) and to substantially contribute to society’s net-zero ambitions, targeting annual emissions reductions of 10 megatonnes across its value chain by 2030.
  • Suncor, together with Canadian Natural Resources Limited, Cenovus Energy Inc., Imperial Oil Resources Limited and MEG Energy Corp. announced the Oil Sands Pathways to Net Zero alliance, which was later expanded to include ConocoPhillips Canada Resources Corp. in November 2021. Together, these six companies operate about 95% of Canada’s oil sands production.
  • In the fourth quarter of 2021, the company completed the sale of its 26.69% working interest in the Golden Eagle Area Development for gross proceeds of US$250 million net of closing adjustments and other closing costs.
Suncor and Syncrude logos are pictured alongside employees to show the recent change in operatorship of the Syncrude project.

 

  • Suncor assumed the role of operator of the Syncrude joint operation on September 30, 2021, a critical step towards driving greater integration, efficiencies and competitiveness across all Suncor-operated assets in the region.
  • Buzzard Phase 2, which will extend production life of the existing Buzzard field, achieved first oil in the fourth quarter of 2021.
  • Suncor, together with eight Indigenous communities, acquired a 15% equity interest in the Northern Courier Pipeline in the fourth quarter of 2021.
The Fort Hills sign at Gate 9 at sunset.

2022

  • Kris Smith was appointed as Suncor Interim President and CEO.
  • Suncor and the joint venture owners announced the decision to restart the West White Rose Project offshore the east coast of Canada, which is expected to extend the production life of the White Rose field. As a result of the restart decision, Suncor has increased its ownership in the White Rose assets by an additional 12.5% to approximately 39%
  • In the third quarter of 2022, Suncor completed the sale of its exploration and production (E&P) assets in Norway for gross proceeds of approximately $430 million, before closing adjustments and other closing costs.
  • Suncor completed the sale of its wind and solar assets for gross proceeds of approximately $730 million, to focus on hydrogen and renewable fuels to accelerate progress towards its objective to be a net-zero GHG emissions company by 2050.
  • Suncor announced its intention to divest its U.K. E&P portfolio which include Buzzard and the Rosebank future development project.
  • During the fourth quarter of 2022, the company entered into an agreement to acquire Teck’s 21.3% interest in the Fort Hills Project and its associated sales and logistics agreements for $1.0 billion, subject to working capital and other closing adjustments.
Rich Kruger, President and Chief Executive Officer of Suncor.

2023

  • Rich Kruger appointed new President and CEO.
  • Suncor sells UK Exploration & Production business to Equinor UK Limited. The transaction included Suncor’s non-operated stakes in the producing Buzzard field (29.9%) and the Rosebank development (40%).
  • Suncor acquired TotalEnergies’ Canadian operations including the remaining 31.23% working interest in the Fort Hills oil sands mining project. As a result, Suncor is the sole owner and operator of the Fort Hills project.