Suncor announced Monday that it has increased its interest in Syncrude.
The company bought 5% interest from Mocal Energy for $925 million.
The purchase brings Suncor’s share in the Syncrude joint venture from 53.74% to 58.74%.
Closing adjustments could still be made on the purchase price and is based on an effective date of Jan. 1, 2018.
The Syncrude joint venture partners are Suncor at 58.74%, Imperial Oil Resources at 25%, Sinopec Oil Sands Partnership at 9.03% and Nexen Oil Sands Partnership at 7.23%.
