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Suncor, Teck up stakes in new Fort Hills oil sands project

Creamer Media Deputy Editor: North America
The partners of the C$13.5-billion Fort Hills oil sands project, in Alberta, have resolved a commercial dispute, resulting in Suncor Energy increasing its ownership in the project to 53.06%, and Teck Resources upping its stake to 20.89%, from 50.8% and 20%, respectively. The companies reached agreement with Total E&P Canada, with the new ownership reflecting increased funding from Suncor and Teck of about $300-million and $120-million, respectively.

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