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Reuters
Suncor Energy quarterly profit surges, plans to divest assets
(Reuters) -Suncor Energy Inc posted an over fourfold jump in its second-quarter profit on Thursday, as the oil producer benefited from a rally in commodity prices, and floated plans to divest assets and slim down its portfolio. Suncor, Canada’s third-largest oil producer, said it has signed a deal to divest its Norway assets for about $410 million, and has also begun a sale process for its entire UK business after receiving interest. The Calgary, Alberta-based firm had reached an agreement with activist investor Elliott Investment Management last month.
