Contribution to the economy
The benefits of Suncor's success extend well beyond the returns we provide to shareholders. Our operations generate valuable revenues for governments as well as our suppliers and partners.
Royalties and taxes. In 2012, royalties paid by Suncor totalled $2.3 billion, including $684 million directed to the Alberta government for oil sands royalties. As well, Suncor paid income taxes of approximately $1.5 billion to governments in Canada and internationally.
Capital Spending. Capital and exploration expenditures totalled $7.0 billion in 2012, compared to $6.9 billion in 2011.
Goods and services. Suncor’s combined spending on goods and services was almost $11.2 billion in 2012. A look at our supply chain spending shows we had more than 8,000 Canadian vendors spanning all 10 provinces as well as the Northwest Territories and Yukon. The United States was our next biggest supplier (more than 2,000 vendors), although we also purchased from 50 other countries.
The range of goods and services is extensive and includes:
- heavy equipment
- environmental services
- mining services
- structural steel products
- pipes, flanges and fittings
- marine and subsea services
Aboriginal partners. Whenever possible, Suncor prefers to use local vendors. In 2012, we spent $281 million on direct purchases from Aboriginal businesses that serve the Wood Buffalo region, home to our oil sands operations. Since 1992, Suncor has directed more than $2 billion in goods and services spending with Aboriginal companies.