One of Canada’s biggest energy companies is selling offshore assets in Atlantic Canada as it focuses on its oilsands holdings, while another is buying up a smaller peer to grow its own footprint in northern Alberta.
The announcements from Suncor Energy Inc. and Cenovus Energy Inc. come days after a proposed million-barrel-a-day pipeline to the West Coast was deemed the first national-interest project under federal legislation passed last year. There have been questions over whether oilsands firms would be willing to invest in enough production growth to fill that massive pipeline by the time it starts up around 2032, as well as several other pipeline expansions set to come online sooner….