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ConocoPhillips, Suncor Each Buy a Canadian Oil Sands Asset from TotalEnergies
October 10, 2023–Researched by Industrial Info Resources (Sugar Land, Texas)–Last week, TotalEnergies SE (NYSE:TTE) (Courbevoie, France) said it finalized the sale of its 50% interest in the Surmont oil sands asset to ConocoPhillips (NYSE:COP) (Houston, Texas), and entered an agreement to sell its stake in the Fort Hills oil sands asset to Suncor Energy (NYSE:SU) (Calgary, Alberta), for a base amount of C$4.03 billion (US$3 billion) and C$1.47 billion (US$1.1 billion), respectively. The transactions also include TotalEnergies’ associated midstream commitments.
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