History
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 increasted 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%.
In 2011, Canadian Oil Sands Trust converted from a royalty trust to a corporation, becoming Canadian Oil Sands Limited.
Read more about this topic: Canadian Oil Sands
Famous quotes containing the word history:
“A country grows in history not only because of the heroism of its troops on the field of battle, it grows also when it turns to justice and to right for the conservation of its interests.”
—Aristide Briand (1862–1932)
“All history and art are against us, but we still expect happiness in love.”
—Mason Cooley (b. 1927)
“It is remarkable how closely the history of the apple tree is connected with that of man.”
—Henry David Thoreau (1817–1862)