Suncor Energy Inc. (TSX: SU, NYSE: SU) is a Canadian integrated energy company, based in Calgary, Alberta. It has specialized on production of synthetic crude from oil sands. Suncor ranks number 254 on the Forbes Global 2000 list.[2]

Suncor markets products and services to retail customers in Ontario through a network of more than 280 Sunoco-branded retail sites, as well as more than 200 customer-operated retail and diesel sites. In addition, it sells oil products under Petro-Canada brand. Suncor also markets through a retail network of Phillips 66-branded outlets throughout Colorado.

The Early Years (1917-1960)

In 1917, the U.S.-based parent company, Sun Company, conducts business in Canada supplying lubricating oils, kerosene and spirits to war plants in the Montreal area. In 1919, the first Canadian office opens in Montreal as Sun Company of Canada.

During these early years, Sun Company also supplies fuel oil and gasoline brought in by rail from the U.S. and the company expands by opening offices in Toronto and London, Ontario. "Blue Sunoco", a single grade, no-lead product replaces previously sold gasolines.

Meanwhile out west, in a lab at the Alberta Research Council in Edmonton, Dr. Karl Clark works on the hot water extraction process that separates oil from sand — a process originated in 1923 and still used today.

The Oil Sands Story (1960s, 1970s & 1980s)

The 1960s is the birth of the company’s future. The U.S. parent company invests $250 million to establish the Great Canadian Oil Sands project in Fort McMurray. Some deem it "a daring venture into an unknown field" and "the biggest gamble in history". It is the largest, single private investment in Canada’s history.

Construction begins in 1964, with then president and chairman J. Howard Pew, saying, "I am convinced this venture will succeed, and it will be the means of opening up reserves to meet the needs of the North American continent for generations to come."

The 45,000 barrel per day project officially opens on September 30, 1967.

Energy for the Future (1990s & 2000s)

Memories of the tough 1980s fade as the exciting 1990s begin. The company transforms from an unprofitable oil and gas company to a dynamic, highly profitable enterprise. The vision of new president and chief executive officer, Rick George, is to be a successful ‘sustainable energy company’.

Numerous changes establish Suncor as a world leader in oil sands mining and processing. Suncor reduces operating costs by switching technology from bucketwheel excavators to truck and shovel mining, and the government changes tax royalties to reduce the risk for oil sands capital investments.

The decade ends with the launch of Project Millennium, a four-year, $3.4-billion expansion to increase production capacity to 225,000 by 2002.

Building a Flagship Energy Company

The combination of Suncor Energy and Petro-Canada creates a globally-competitive, Canadian-based integrated energy company with a balanced portfolio of high quality assets, a strong balance sheet and significant growth prospects.

• Upon completion of the transaction:

o the combined entity now operates corporately and trades under the Suncor Energy Inc. name, while maintaining the strong brand presence and customer loyalty of Petro-Canada in refined products;

o the second largest Canadian company, the fifth largest North American energy company and a place on the global stage as one of the largest independent energy companies in the world was created.

• Together, the merged company has:

o the world’s largest oil sands position;

o strong cash flow from current crude oil and natural gas production ofapproximately 680,000 barrels of oil equivalent per day;

o a strong balance sheet;

o an experienced management team, complementary cultures and leading corporate social responsibility practices;

o a high-quality asset portfolio.

Merger Milestones (2009)

• July 21, 2009

Suncor Energy and Petro-Canada Merger Receives Competition Bureau Approval.

• June 4, 2009

Suncor, Petro-Canada shareholdersapproved the merger of the two companies.

• May 1, 2009

Suncor and Petro-Canada each filed Joint Information Circular, Proxy Statement with securities regulators in Canada and the U.S.

• March 23, 2009

Suncor Energy and Petro-Canada announced plans to join forces to create the premier Canadian energy company with Rick George as president and CEO and Ron Brenneman as executive vice chairman of the new entity.