Canadian Oil Sands is a pure investment opportunity in light, sweet crude oil. Co. indirectly owns a 36.74% interest in the Syncrude Joint Venture (“Syncrude”).
Syncrude is involved in the mining and upgrading of bitumen from oil sands near Fort McMurray.
Co. also indirectly owns 36.74% of shares of Syncrude Canada Ltd. (“Syncrude Canada”). Syncrude Canada operates Syncrude on behalf of the owners and is responsible for selecting, compensating, directing and controlling Syncrude’s employees, and for administering all related employment benefits and obligations.
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