Overview

• The Canadian government is reviewing Sunoco's $9.1 billion bid for Parkland Corp under updated Investment Canada Act guidelines to assess national security and economic implications.
• Parkland, a Calgary-based fuel distributor, operates the Burnaby refinery and sells fuel under brands like Ultramar, Chevron, and Pioneer in Canada.
• Sunoco has pledged to preserve Canadian jobs, retain Parkland’s Calgary headquarters, and invest in the country as part of the proposed deal.
• Union leaders and resource-nationalism advocates are urging enforceable guarantees to protect Canadian energy infrastructure and employment.
• The deal's timing coincides with heightened Canada-U.S. trade tensions and calls for greater Canadian energy independence.