SUNCOR SELLS OFFSHORE STAKES, HIKES BUYBACK

Suncor Energy agreed to sell its stakes in three offshore Newfoundland projects - Terra Nova, White Rose and West White Rose - to Ithaca Energy for up to C$1.55 billion. Suncor ($SU) is funneling part of the proceeds into a bigger buyback, raising its monthly share repurchase from C$500 million to C$750 million starting this month. The sale leaves Suncor focused on its oil sands core and the Hebron and Hibernia offshore fields.