Market Chatter: MEG's Bitumen-by-Barge Winning Over Investors

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"MEG Energy Corp.'s ( MEG ) plans to avoid a pipeline bottleneck and record discounts for Canadian crude by shipping oil by rail and barge are being rewarded by investors," Bloomberg reported.

It said: "MEG, based in Calgary, is the second-best performer on the Standard & Poor's/TSX Energy Index (STENRS), rising 16% this year and beating other oil-sands competitors including Suncor Energy Inc. (SU.TO) and Cenovus Energy Inc. (CVE.TO). The gain comes as MEG's only product, Canadian heavy crude, stands US$31.50 below the U.S. benchmark."



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This article appears in: Investing , Commodities

Referenced Stocks: MEG

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