Suncor Energy Inc (SU). The oil company is expected to shelve plans for a multibillion-dollar oil sands processing plant in northern Alberta
• Suncor Energy Inc (SU). The oil company is expected to shelve plans for a multibillion-dollar oil sands processing plant in northern Alberta when it announces the fate of the facility in the coming days, blaming a forecast for weakening returns. The decision by the company on its long-delayed and partially built Voyageur upgrading plant in Alberta is one of a pair of major developments in the oil sands due this week, the other being the targeted start-up of Imperial Oil Ltd's (IMO) Kearl mining project after about four years of construction.
they had partners they had to go slow, and probably buy them out in order to make the final decision. I would have liked to hear about dividend increase at the same time. they have stopped spending lots of investment money, and that cash flow needs to go to the shareholders. im very glad that they have stopped spending their cash flow on stuff that doesnt make sense. Now spend give it to us, since they have no better idea.