Suncor Energy may be Canada’s largest energy company but size alone is no guarantee that people know who we are and what we do. In fact, there are a few myths out there about Suncor. We’re deeply proud of the work we do, which is why we’d like to do some ‘busting’.
Myth 1: Suncor is almost wholly owned by foreign investors
Fact: Suncor is a publicly-traded company that’s widely held by both individual and institutional investors from around the world.
Suncor’s common shares (ticker symbol: SU) are listed on both the Toronto Stock Exchange and the New York Stock Exchange. While Suncor has had shares purchased by investors outside of North America, over half our shares are held by Canadians. Approximately 80-90 per cent of these shares are held by institutions which in turn represent multiple investors - in many cases hundreds of thousands people. Our most significant shareholders are mutual funds and exchange-traded funds that are bought by retail investors. The largest of these funds typically control between 1-2 per cent. The remaining 10-20 per cent of shares are small holdings, largely individual retail investors in Canada, employees, and family trusts.
Myth 2: Suncor doesn’t work with environmental organizations or others who are critical of oil sands development
Fact: Suncor participates in many partnerships and initiatives designed to include environmental non-government organizations (ENGOs) and other organizations often critical of the oil sands industry.
Why do we work with groups that hold different perspectives? Because ENGOs, like the industries and companies they monitor, are not all the same. We seek out relationships with organizations that allow us to engage in constructive, balanced discussions about our operations and impacts. Many of these ENGO relationships begin with tours of our oil sands site. We then build on this initial understanding, creating a host of partnership opportunities.
Myth 3: Suncor’s work camps are not very nice places
Fact: Suncor lodges are designed specifically to meet the needs of our employees.
Suncor’s lodges might fall short of the five-star rating (no in-room dining menu, sorry!), but they’re certainly comfortable. The lodges offer ample food service with healthy options and a plethora of recreational activities such as gyms and intramural sports. Some of our lodges even offer movies theatres and Tim Horton’s coffee shops. One thing that isn’t available in any of our lodges, though, are alcoholic beverages, as all of Suncor’s camps are completely dry.
Myth 4: Anyone can get a job at Suncor’s oil sands operations
Fact: We seek out the most qualified staff from across Canada and around the world.
For several years, the oil and gas industry has been challenged sustaining and growing its workforce. It’s a major concern; that’s why Suncor hires from communities where we operate and invests in education initiatives to help grow the pool of skilled workers we need. When it’s not possible to hire locally, we look for qualified candidates across Canada first and then internationally.
Myth 5: Suncor operates Canada’s fourth-largest airline
Fact: Suncor does operate a robust aviation program, but it is not the country’s fourth-largest.
Our aircrafts are regulated by Transport Canada and fly around 400 hours every month to support Suncor’s operations. Supplemented by charters when needed, this fleet moves an average of 25,000 passengers per month and up to 32,000 passengers during turnaround periods.
We love SunJet: it’s a competitive advantage, allowing us to match scheduling with our projects and help us control cost. Job number one remains a safe and reliable service but you might also hear passengers praising the flexibility and our highly-experienced flight crews.