Suncor taking over day-to-day operations at Syncrude in bid to cut $300 million in costs

CALGARY – Suncor Energy Inc. will take over the day-to-day operations of the Syncrude oilsands mining joint venture next year in a move the energy producer said would cut costs by $300 million. Despite owning a 58.75 per cent majority in Syncrude — one of the first oilsands mining and upgrading joint-ventures in Canada — Suncor has until now kept in place an operating structure that sees competitor Imperial Oil Ltd.,...