CALGARY, ALBERTA--(Marketwire - Nov. 18, 2008) - Petro-Canada, along with the other Syncrude Joint Venture owners, has signed agreements with the Government of Alberta to amend the existing Syncrude crown agreement.

CALGARY, ALBERTA--(Marketwire - Nov. 17, 2008) - The Fort Hills Energy L. P. ("The Partnership") announced today that it will defer the final investment decision on the mining portion of the Project ("Project") until a cost estimate consistent with the current market environment can be established. The Partnership now anticipates making a final investment decision in 2009. The Sturgeon Upgrader ("Upgrader") portion of the Project will be put on hold and a decision on whether to proceed with the Upgrader will be made at a later date.

CALGARY, ALBERTA--(Marketwire - Nov. 17, 2008) - The Fort Hills Energy L. P. ("The Partnership") announced today that it will defer the final investment decision on the mining portion of the Project ("Project") until a cost estimate consistent with the current market environment can be established. The Partnership now anticipates making a final investment decision in 2009. The Sturgeon Upgrader ("Upgrader") portion of the Project will be put on hold and a decision on whether to proceed with the Upgrader will be made at a later date.

CALGARY, ALBERTA--(Marketwire - Oct. 23, 2008) -

Highlights

• Robust cash flow, a strong balance sheet and liquidity provide financial stability in a turbulent market
• Reliable upstream operations deliver strong production in line with guidance
• Construction of the Edmonton refinery conversion project (RCP) completed and refinery on track for fourth quarter 2008 startup

Petro-Canada announced today third quarter operating earnings of $1,242 million ($2.56/share), up 97% from $630 million ($1.29/share) in the third quarter of 2007. Third quarter 2008 cash flow from operating activities before changes in non-cash working capital was $2,116 million ($4.37/share), up 72% from $1,229 million ($2.52/share) in the same quarter of last year.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2008) - The families of Canadian Olympic and Paralympic Winter athletes have another reason to cheer with the exciting launch of the Petro-Canada Canadian Athlete Family Program. This initiative will allow over 500 athletes' family members to watch their loved ones compete live at the Vancouver 2010 Olympic and Paralympic Winter Games.

CALGARY, ALBERTA--(Marketwire - Sept. 17, 2008) - The Fort Hills Energy Limited Partnership said today that the preliminary results from the Front-End Engineering and Design (FEED) work suggest that estimated costs for its Fort Hills Project (Project) have risen considerably. The Project, as currently conceived, consists of an integrated oil sands mine and bitumen extraction plant 90 kilometres north of Fort McMurray, Alberta and an upgrader in Sturgeon County northeast of Edmonton, Alberta.

CALGARY, ALBERTA--(Marketwire - Sept. 17, 2008) - Petro-Canada, the operator and a 60% owner of the Fort Hills Project (Project), along with its Partners in the Fort Hills Energy Limited Partnership, said today that the preliminary results of the Front-End Engineering and Design (FEED) work suggests that estimated costs for the Fort Hills Project have risen considerably. The Project, as currently conceived, consists of an integrated oil sands mine and bitumen extraction plant 90 kilometres north of Fort McMurray, Alberta and the upgrader in Sturgeon County, northeast of Edmonton, Alberta.

BEIJING, CHINA--(Marketwire - Aug. 12, 2008) - Today, Petro-Canada and the Coaching Association of Canada (CAC) honoured Canada's Olympic coaches at the Coaches' Recognition Evening at Canada Olympic House. A tradition that began in Salt Lake City in 2002, the event honours the men and women who prepare our athletes for Olympic competition.

CALGARY, ALBERTA--(Marketwire - Aug. 12, 2008) - Petro-Canada is currently working to minimize the inconvenience to customers in Alberta and the interior of British Columbia as it deals with an unexpected supply shortfall of gasoline at its Edmonton refinery.

CALGARY, ALBERTA--(Marketwire - July 24, 2008) -

Highlights

• Strong production in line with guidance due to successful turnarounds and reliable operations
• Final Libya agreements signed, adding reserves and extending terms by an expected 30 years
• Edmonton refinery conversion project 92% complete and on track for startup in the fourth quarter of 2008
• On July 23, 2008, declared a 54% increase in the quarterly dividend commencing on October 1, 2008

Petro-Canada announced today second quarter operating earnings of $1,151 million ($2.38/share), up 43% from $805 million ($1.63/share) in the second quarter of 2007. Second quarter 2008 cash flow from operating activities before changes in non-cash working capital was $1,979 million ($4.09/share), up 47% from $1,350 million ($2.74/share) in the same quarter of last year.

CALGARY, ALBERTA--(Marketwire - July 23, 2008) - Petro-Canada today declared a quarterly dividend of $0.20 per share on the Company's outstanding common shares - a 54% increase compared with the $0.13 per share dividend declared in April 2008. The increased dividend will be payable on October 1, 2008 to shareholders of record at the close of business on September 3, 2008.

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.

CALGARY, ALBERTA--(Marketwire - June 19, 2008) - Petro-Canada announced today that the Toronto Stock Exchange (TSX) approved its application to renew its Normal Course Issuer Bid (NCIB) for the repurchase of its common shares.

LONDON, ENGLAND--(Marketwire - June 19, 2008) - Petro-Canada announced today that it has signed six new exploration and production sharing agreements (EPSAs) with the Libyan National Oil Corporation (NOC). The commercial terms of the new agreements, including the signing bonus, match those announced when Heads of Agreement were signed in December, 2007 and were ratified as of the signing, with an effective date of January 1, 2008.

MISSISSAUGA, ONTARIO--(Marketwire - June 11, 2008) - What's better than being a PETRO-POINTS member and a CAA member? Becoming a joint member of both, of course. PETRO-POINTS and CAA are therefore pleased to announce a new initiative that will mean greater rewards for drivers in Ontario.

CALGARY, ALBERTA--(Marketwire - June 3, 2008) - Many Canadian athletes and coaches are one step closer to realizing their Olympic and Paralympic dreams, with the announcement of this year's recipients of the Fuelling Athlete and Coaching Excellence (FACE)(TM) program.

CALGARY, ALBERTA--(Marketwire - May 12, 2008) - Petro-Canada has agreed to sell to a syndicate of underwriters in the United States $600 million US of 6.05% 10-year Notes due May 15, 2018 and $900 million US of 6.80% 30-year Notes due May 15, 2038.

EDMONTON, ALBERTA--(Marketwire - May 9, 2008) - Women make up half of Alberta's labour force, but just 4% of the trades. Today, Edmonton's Women Building Futures (WBF) and Petro-Canada announced a solution to change that statistic with the grand opening of the WBF Petro-Canada Training Centre and Housing Facility.

CALGARY, ALBERTA--(Marketwire - April 29, 2008) - Petro-Canada announces a quarterly dividend of $0.13 per share on the outstanding common shares of the Company, payable on July 1, 2008 to shareholders of record at the close of business on June 3, 2008.

CALGARY, ALBERTA--(Marketwire - April 29, 2008) -

Highlights

• Reliable operations at all major facilities and strong production of 427,000 barrels of oil equivalent per day (boe/d)
• Edmonton refinery conversion project 79% complete and on track for startup in the fourth quarter of 2008
• All seven major growth projects advanced

Petro-Canada announced today first quarter operating earnings of $899 million ($1.86/share), compared with $580 million ($1.17/share) in the first quarter of 2007. First quarter 2008 cash flow from operating activities before changes in non-cash working capital was $1,852 million ($3.83/share), compared with $1,166 million ($2.35/share) in the same quarter of last year.

CALGARY, ALBERTA--(Marketwire - April 23, 2008) - Petro-Canada announced today that as a legacy to celebrate the Vancouver 2010 Olympic and Paralympic Winter Games, the Company had commissioned British Columbia-based Aboriginal artist Klatle-Bhi (pronounced Cloth Bay) to carve a 25-foot totem pole. The totem pole will commemorate Petro-Canada's sponsorship of the Games, and promote cultural and economic opportunities made possible by hosting the 2010 Winter Games.

CALGARY, ALBERTA--(Marketwire - March 24, 2008) - Petro-Canada today filed its 2007 Annual Report, Annual Information Form (AIF), Form 40-F and Management Proxy Circular with securities regulators in Canada and the United States. The Annual Report contains Management's Discussion and Analysis, and the audited Consolidated Financial Statements and Notes for the year ended December 31, 2007.

CALGARY, ALBERTA--(Marketwire - March 24, 2008) - Petro-Canada today filed a registration statement with the U.S. Securities and Exchange Commission (SEC) and a preliminary base shelf prospectus with the securities commission or equivalent regulatory authority in each of the provinces and territories of Canada for the offering of up to $4 billion US of debt securities.

CALGARY, ALBERTA--(Marketwire - Feb. 29, 2008) - Petro-Canada announced today a $1-million donation to create a prestigious scholarship program at the University of Calgary. The Petro-Canada Emerging Leaders Awards Program(TM) will support future leaders through financial support and work experience.

MISSISSAUGA, ONTARIO--(Marketwire - Feb. 26, 2008) - As many Canadians look to escape the slush and snow, PETRO-POINTS and itravel2000 are pleased to announce a new partnership that will heat up their travel options. Starting today, PETRO-POINTS Members can earn points when purchasing vacation packages, cruises, flights, hotels and other travel needs through itravel2000. As well, members will be able to redeem their PETRO-POINTS to put towards those same purchases.

CALGARY, ALBERTA--(Marketwire - Jan. 31, 2008) - Petro-Canada announces a quarterly dividend of $0.13 per share on the outstanding common shares of the Company, payable on April 1, 2008 to shareholders of record at the close of business on March 3, 2008.

CALGARY, ALBERTA--(Marketwire - Jan. 31, 2008) -

Highlights

• Delivered 21% growth in 2007 upstream production, compared with 2006
• Replaced 127% of proved plus probable reserves over five years
• Expanded list of major growth projects to include Libyan Concession Development and White Rose Extensions

Petro-Canada announced today fourth quarter operating earnings from continuing operations adjusted for unusual items of $513 million ($1.06/share), compared with $486 million ($0.98/share) in the fourth quarter of 2006. Fourth quarter 2007 cash flow from continuing operating activities before changes in non-cash working capital was $17 million ($0.04/share), compared with $991 million ($1.99/share) in the same quarter of last year. The significant decrease in cash flow from continuing operating activities before changes in non-cash working capital in the fourth quarter of 2007, compared with the same quarter in 2006, was due to the payment of $1,145 million after-tax ($2.36/share) to settle the Buzzard derivative contract hedges as announced December 12, 2007.

LONDON, UNITED KINGDOM--(Marketwire - Jan. 23, 2008) - Petro-Canada today announced successful results from two international exploration wells - one in the United Kingdom (U.K.) sector of the North Sea and one in deepwater off Trinidad and Tobago.