Canadian Oil Sands
|Traded as||TSX: COS
S&P/TSX 60 component
|Key people||Marcel R. Coutu (CEO)|
|Revenue||3.8 billion USD (2012)|
|Net income||961 million USD (2012)|
Canadian Oil Sands Limited is a Canadian company that generates income from its oil sands investment in the Syncrude Joint Venture. Syncrude operates an oil sands facility and produces crude oil through the mining of oil sands from ore deposits in the Athabasca region of northern Alberta, Canada. As of January 2, 2007, the company holds a 36.74% interest in Syncrude, which is the largest stake of any of the joint owners.
In 1978, Syncrude produced its first barrel of oil.
PanCanadian Petroleum (now Encana) formed Canadian Oil Sands Trust in 1995 with a 10% interest in Syncrude. The following year, Gulf Canada formed Athabasca Oil Sands Trust with an 11.74% interest in Syncrude. Canadian Oil Sands Trust and Athabasca Oil Sands Trust merged in 2001, continuing as Canadian Oil Sands Trust. Canadian Oil Sands Trust increased its interest in Syncrude to 35.5% in 2003. A further purchase of a 1.25% incremental interest brought the trust's interest in Syncrude to its current level of 36.74%. Other investors with a significant shareholding in Syncrude are Suncor Energy Inc., Imperial Oil Ltd., and two major Chinese oil outfits. The trust is reliant on Syncrude for its income, while its partners have other investments.
Canadian Oil Sand's primary business operation is through its 36.74 per cent interest in Syncrude.
The company also holds some arctic natural gas interests through a wholly owned subsidiary, Canadian Arctic Gas Limited.
Canadian Oil Sand is a limited liability, publicly traded corporation. Current members of the board of directors are: Donald J. Lowry, Ian A. Bourne, Marcel R. Coutu, Gerald W. Grandey, Sarah E. Raiss, John K. Read, Brant G. Sangster, C.E. (Chuck) Shultz, Wesley R. Twiss and John B. Zaozirny, Q.C..
- "Company Profile for Canadian Oil Sands Trust (CA;COS.UN)". Retrieved 2008-10-07.
- Canadian Oil Sands Corporate History
- G+M 30 Oct 2013: "Canadian Oil Sands again cuts Syncrude’s output forecast"
- Toronto Stock Exchange Company Profile
- Canadian Oilsands Limited 2011 Annual Information Form
- Canadian Oil Sands Limited 2011 Annual Report