Suncor Energy

1919–2000

Suncor was founded in 1919 in Montreal as Sun Company of Canada, a subsidiary of Sun Oil . In 1979, Sun formed Suncor by merging its Canadian refining and retailing interests; Great Canadian Oil Sands ; and its conventional oil and gas interests. In 1981, the Government of Ontario purchased a 25% stake in the company; it divested in 1993. In 1995 Sun Oil also divested its interest in the company, although Suncor maintained the Sunoco retail brand in Canada. With these two divestitures, Suncor become an independent, widely held public company.

2000–present

In 2003, Suncor acquired a refinery and associated Phillips 66 gas stations in Commerce City, Colorado from ConocoPhillips. In 2005, Suncor acquired a second Commerce City refinery from Valero Energy. Suncor moved its retail brand from Phillips 66 to Shell from 2009 to 2013. Suncor added the Exxon and Mobil brands in Colorado and Wyoming in 2015.On March 23, 2009, Suncor announced its intent to acquire Petro-Canada. This merger created a company with a combined market capitalization of C$43.3 billion. On June 4, 2009, a 98% approval rate was reached by Suncor's shareholders for the acquisition of Petro-Canada and the Competition Bureau approved the merger on June 21, 2009. The merger with Canada's 11th largest company was completed on August 1, 2009 in a $21 billion deal to form the second-largest company in Canada in terms of market capitalization. In December 2009, as a condition of the merger, Suncor sold 98 gas stations in Ontario to Husky Energy, consisting of 68 Sunoco-branded locations and 30 Petro-Canada-branded locations.In 2015 Suncor courted Canadian Oil Sands, the largest owner of the Syncrude project with 37% ownership , with proposals for acquisition and hostile takeover. In January 2016 they reached an agreement with Suncor acquiring COS for C$6.6 billion, raising its Syncrude ownership to 49%.On April 27, 2016, Suncor announced that it had reached a $937-million deal to acquire Murphy Oil's five-per-cent stake in the Syncrude project, growing its interest in Syncrude to nearly 54 per cent, making it the majority shareholder of the project. In fall 2021, Suncor assumed operatorship of the Syncrude Joint Venture oil sands project in a bid to improve its performance. Suncor holds a majority stake in Syncrude with 58.74 per cent.