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Company News

Suncor Energy in commercial dispute with Total SA over Fort Hills project

CALGARY, Alberta, July 27 (Reuters) - Canada’s Suncor Energy Inc is in the early stages of a commercial dispute with France’s Total SA over funding for the Fort Hills oil sands project in northern Alberta, Suncor said on Thursday.

The 194,000-barrel-per-day mining project is a joint venture between Suncor, Total and Teck Resources Ltd.

Earlier this year Suncor upped its Fort Hills capital costs estimate to between C$16.5 billion and C$17 billion, from C$15.1 billion, and on Wednesday the Canadian company said it would bring forward some project spending earmarked on 2018 into this year. (Reporting by Nia Williams; Editing by Jeffrey Benkoe)

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