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:
“Let it suffice that in the light of these two facts, namely, that the mind is One, and that nature is its correlative, history is to be read and written.”
—Ralph Waldo Emerson (1803–1882)
“A man acquainted with history may, in some respect, be said to have lived from the beginning of the world, and to have been making continual additions to his stock of knowledge in every century.”
—David Hume (1711–1776)
“History ... is, indeed, little more than the register of the crimes, follies, and misfortunes of mankind.
But what experience and history teach is this—that peoples and governments have never learned anything from history, or acted on principles deduced from it.”
—Georg Wilhelm Friedrich Hegel (1770–1831)