As a large producer of crude oil from the oil sands, Syncrude has a tremendous and positive impact on the economies of Alberta and Canada.
We have a long and proud history of contributing to the economic well-being of Canadians by providing rewarding employment to thousands of people, through the payment of royalties and corporate, property and payroll taxes, and through the purchase of goods and services from suppliers.
We have a long and proud history
Syncrude continues to be a major engine of growth for the Alberta and Canadian economies. Over the last five years, the company has generated a total economic impact of $31.7 billion across the nation.
Syncrude contributed over $5.4 billion to Canada’s economy in 2017 – with over a third in the local Wood Buffalo region – through procurement of goods and services, taxes and royalties, and salaries. At $3.4 billion, procurement comprised the largest portion of our expenditures. Of our total annual procurement, 95 per cent was spent in Canada.
We are one of the largest private sector employers of Indigenous people in Canada. Indigenous people comprise about 10.1% of our employee workforce. To date, we have spent over $3 billion with Aboriginal suppliers..