Suncor’s 2014 capital plan: more, more, more

For Suncor (TSE:SU), 2014 is going to be about one thing: more. More spending, more free cash flow and more money paid out in dividends to its shareholders – at least, that’s Canaccord Genuity’s Phil Skolnick’s read of their 2014 capital spending plan. The company intends to spend $1 billion more in 2014 than it did this year, and expects that to juice its overall production by 14 per cent.

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Suncor pay goes up over 3% per year after new deal with union

Wages for Suncor’s oilsands workers will go up 10.5% over three years after the oil company’s union ratified a new agreement.

The agreement, ratified by the Communications, Energy and Paperworkers Union’s national energy committee Tuesday, raises wages by 3.25%, 3.5% and 3.75% for each of the three years of the deal, respectively.

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Yedlin: Suncor moves restore reality in Alberta

Everyone who keeps saying Alberta needs to upgrade more of the bitumen produced in the province were handed a big dose of reality Wednesday when Suncor and Total S.A. announced they were shelving the Voyageur upgrading project.

The decision included Suncor buying back Total’s 49-per-cent interest for $515 million, a figure that took some by surprise.

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Suncor scales back 2013 oil sands spending plan

Suncor Energy Inc. will spend nearly $1-billion less to expand in the oil sands next year, with its 2013 budget cutting nearly in half spending in the Fort McMurray region compared to early expectations for 2012.

In a shift of course this year, Suncor pledged to focus on profit over growth in coming years, and launched what it called a “rigorous” review of the costs of new oil sands projects.

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