Syncrude hits $2-billion mark with Aboriginal businesses

Syncrude has reached a major milestone by passing the $2-billion mark in business conducted with Aboriginal-owned companies. Syncrude first began tracking the amount of goods and services procured from Aboriginal-owned companies in 1992 as part of its commitment to business development in its Aboriginal Relations Program. “Even before we began production in 1978, Syncrude’s founding president Frank Spragins insisted the wealth created from oil sands development should benefit Aboriginal communities in the region,” said Syncrude President and CEO Scott Sullivan, in a news release. “We have established excellent long-term partnerships with Aboriginal-owned contractors, who have delivered high quality goods and services safely.” The $1-billion threshold for business conducted between Syncrude and Aboriginal-owned companies was crossed in 2006. Syncrude does business with more than 25 Aboriginal-owned companies based in Wood Buffalo and is a founding member of the Northeastern Alberta Aboriginal Business Association.