Syncrude stewards to a number of Code of Ethics and Business Conduct policies that are designed to foster the high level of ethical conduct expected by our many internal and external stakeholders. The corporation’s Corporate Conduct Committee is responsible for the application of these policies and reports periodically to the Syncrude Executive Audit Committee and also to the Audit and Pension Committee of the Board of Directors.

During 2006, all existing and new Syncrude employees were required to participate in a Business Practices Review session that reviewed expectations for ethical conduct. This review also required all employees to declare all potential or actual conflict of interest situations. By year-end, over 98 per cent of all existing employees had completed the training and appropriate declarations.