Petro-Canada
NYSE : PCZ
TSX : PCA

Petro-Canada

March 26, 2007 14:34 ET

Petro-Canada Expands Dynamic Leadership Program to the University of Waterloo

Emerging Leaders scholarships will support some of the University's top academic students while helping to address Canada's shortage of skilled workers

WATERLOO, ONTARIO--(CCNMatthews - March 26, 2007) - Petro-Canada announced today a $1 million donation to establish the Petro-Canada Emerging Leaders Awards Program at the University of Waterloo to help address Canada's shortage of skilled workers.

"We're investing in students because we rely on innovation, talent and technical expertise to support our business," explained Petro-Canada President and Chief Executive Officer Ron Brenneman. "Our hope is that these scholarships will encourage more students to go to universities and colleges helping alleviate the shortage of skilled workers in areas critical to our industry."

Under the Petro-Canada Emerging Leaders Awards Program, top performing students in the faculties of engineering, science and business will be eligible to apply for this scholarship.

Scholarship recipients will be selected by the University of Waterloo and, conditional on meeting annual requirements, will continue to receive the scholarship each year until they graduate. This will equate to a total of approximately $10,000 per student. In the first five years, more than 30 Waterloo students will participate in the program. In addition to the scholarships, Petro-Canada will develop ongoing relationships with awardees to give them insight into the energy industry and its career opportunities. With the support of a Petro-Canada executive sponsor and team, this could involve co-op assignments, networking opportunities, presentations and mentorship programs.

"Petro-Canada is to be commended for making such an important investment, through its Emerging Leaders Awards Program, in the future of Canada," said David Johnston, President of the University of Waterloo. "This donation will help us help students overcome the significant financial barriers that all too often discourage the best and brightest from pursuing a quality education, promising careers and rewarding lives."

Through its Emerging Leaders Awards Program, Petro-Canada has set up scholarships at a number of post-secondary institutions across Canada. The program is already established at the University of Alberta, the Northern Alberta Institute of Technology (NAIT) and McGill University.

About Petro-Canada

Petro-Canada is one of Canada's largest oil and gas companies, operating in both the upstream and the downstream sectors of the industry in Canada and internationally. The Company creates value by responsibly developing energy resources and providing world class petroleum products and services. Petro-Canada is proud to be a National Partner to the Vancouver 2010 Olympic and Paralympic Winter Games. Petro-Canada's common shares trade on the Toronto Stock Exchange under the symbol PCA and on the New York Stock Exchange under the symbol PCZ.

About the University of Waterloo

Waterloo has long been recognized as the most innovative university in Canada, advancing learning and knowledge through teaching, research and scholarship. The university runs the world's largest post-secondary co-operative education program and its students graduate with the knowledge, skills and experience required to solve today's complex problems and tomorrow's challenges. UW is also the national leader in the transfer of ideas and technology to the private sector.

Contact Information

  • Media and general inquiries:
    Sneh Seetal, Corporate Communications
    Petro-Canada (Calgary)
    (403) 296-6034
    or
    Michael Strickland
    Assistant Director, Media Relations
    University of Waterloo
    (519) 888-4777