Petro-Canada and Suncor merge

[j335]

interesting, gonna be the biggest Canadian Oil company. Some will lose there jobs unfortunately...

 

[kgr]

Is it really a canadian company? Now!

 

[mathrulz]

I actually work for Suncor - was in meetings/conf. calls all morning about the new merger. It sounds pretty interesting indeed, and I think for the future of both of these companies this will be a huge plus. There will basically only be Exxon and Shell, and now Suncor that will be completely integrated from oilsands mining/SAGD through upgrading and refining and retail outlets. Suncor had a couple refineries and some retail in ON and CO, but of course Petro Canada had several refineries and numerous retail outlets - a definate bonus. As far as the job loses - unfortunately when companies merge there are areas of overlap and this will happen. However, there will also likely be many new areas or gaps that emerge for new employees as well. And hopefully with the combined cash flows and reduced overall debt - some of these construction projects can slowly start up again - Voyageur, Firebag, Fort Hills, etc..

 

[Apex162]

Is it really a canadian company? Now!

60 Suncor 40 Petro-Can this worries me a little in our postion on the market for Canada.

 

[j335]

I actually work for Suncor - was in meetings/conf. calls all morning about the new merger. It sounds pretty interesting indeed, and I think for the future of both of these companies this will be a huge plus. There will basically only be Exxon and Shell, and now Suncor that will be completely integrated from oilsands mining/SAGD through upgrading and refining and retail outlets. Suncor had a couple refineries and some retail in ON and CO, but of course Petro Canada had several refineries and numerous retail outlets - a definate bonus. As far as the job loses - unfortunately when companies merge there are areas of overlap and this will happen. However, there will also likely be many new areas or gaps that emerge for new employees as well. And hopefully with the combined cash flows and reduced overall debt - some of these construction projects can slowly start up again - Voyageur, Firebag, Fort Hills, etc..

Definetely gonna help the companies, save costs and allow a lower operating costs on their projects.

 

[grizzley1]

it should accutaly be a good thing,saveing them operating costs so they might start investing more bringing jobs back.

 

[mallard d69]

god i hope this is a good thing i've been out of work for a mouth now because of things closing down hopefully this will help get things flowing soon. this siting on my fingers just isn't working

 

[ZRrrr]

Could this be the first of a couple steps toward foreign ownership. When you consider that a majority of the shares are held my asset management companies, what keeps those assets from being merged in the future, under several "numbered" companies. Something to think about.