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Suncor Chief Busts Oil-Sands Cost Paradigm in Hunt for Deals

  • Oil producer one of few to generate cash amid low prices
  • Company not willing to `chase' Canadian Oil Sands: Williams
Bloomberg business news

Suncor CEO on Merger and Acquisition Opportunities

Suncor Chief Executive Officer Steven Williams is seeking more assets in Canada’s beaten-down oil sands, saying he’s cracked the code for making money in the notoriously costly region.

The country’s largest crude producer is seeking to take advantage of an industry downturn to get even bigger. As competitors struggle or walk away from bitumen production in northern Alberta because of a 60 percent slide in crude prices since June of last year, Suncor is ready to step in, Williams said.