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Canada’s Suncor Energy SU-T is continuing talks with French oil major TotalEnergies TTE-N about buying its nearly one-third stake in the Fort Hills oil sands site, Suncor’s CEO said on Tuesday.

Chief Executive Rich Kruger, who added he expects a resolution to the talks this year, said Suncor prefers to own 100 per cent of its facilities. Canada’s second-largest oil producer is looking to increase its bitumen supplies to replace its aging Base Mine.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 01/03/24 4:00pm EST.

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Suncor Energy Inc
Suncor Energy Inc
Totalenergies Se ADR

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