(Bloomberg) -- Suncor Energy Inc. shares rose to an almost 16-year high after the oil-sands producer accelerated plans to ramp up share buybacks, marking a win for activist investor Elliott Investment Management LP. Most Read from BloombergOne Dead After Singapore Air Flight Hit By Severe TurbulenceASML, TSMC Can Disable Chip Machines If China Invades TaiwanHims Debuts $199 Weight-Loss Shots at 85% Discount to WegovyTesla Shareholder Group Slams Elon Musk’s $56 Billion Pay PackageJamie Dimon Say
CALGARY — Suncor Energy Inc. says it will be more than five years before it makes any significant investments to secure additional bitumen supply to replace output from its Base Plant oilsands mine.
The likes of SU, PBA and CNQ, among others, stand to gain from better market access and improved pricing following the Trans Mountain oil pipeline expansion.