Petro-Canada
NYSE : PCZ
TSX : PCA

Petro-Canada

July 16, 2008 14:11 ET

Petro-Canada Issues Its 2007-2008 Report to the Community

CALGARY, ALBERTA--(Marketwire - July 16, 2008) - Petro-Canada today released its 2007-2008 Report to the Community, outlining priorities and performance relative to commitments made in the Company's Principles for Responsible Investment and Operations. This year's Report to the Community includes stories on Petro-Canada's Oil Sands development and the Company's approach to water management.

Highlights from 2007 include:

- maintaining strong safety performance and continuing to be amongst the top safety performers in the industry;

- contributing nearly $15 million to community partnerships, including more than $3 million into scholarship and mentoring programs across Canada's universities and technical colleges;

- participating in Alberta's first emissions credit offsets auction in a project converting biomass to energy;

- developing a set of water principles to guide responsible management and disposal of water used or produced in our operations; and,

- signing a Memorandum of Agreement to use treated waste water as the industrial process water at the Fort Hills Sturgeon Upgrader.

"Petro-Canada continues to develop a track record of responsible development," said Ron Brenneman, Petro-Canada's President and Chief Executive Officer. "We aim to be transparent, set the bar on ethics high and maintain long-term relationships with stakeholders."

As an environmentally-friendly initiative, Petro-Canada continues to condense its print version of the Report to the Community to only include highlights and information of general interest. A downloadable version of the report, more detail and accompanying data sheets are available on the Company's website at www.petro-canada.ca. If you would like a print copy, please contact Terri Howe at (403) 296-5743. If you have feedback on the report, please email us comments at corpcomm@petro-canada.ca.

Petro-Canada is one of Canada's largest oil and gas companies, operating in both the upstream and 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.

Contact Information

  • Media and general inquiries:
    Victoria Barrington
    Corporate Communications
    Petro-Canada (Calgary)
    (403) 296-8589
    or
    Investor and analyst inquiries:
    Lisa McMahon
    Investor Relations
    Petro-Canada (Calgary)
    (403) 296-3764
    Website: www.petro-canada.ca