Referenced Stocks

Market Chatter: Suncor Eyes Chinese Help for Oil Sands Projects

By Midnight Trader,  June 27, 2012, 07:58:24 AM EDT

Suncor Energy Inc. ( SU ) CEO, Steven Williams, said the company is seeking partnerships with Chinese companies to help build its oil sands projects as Canada's top oil producer and refiner struggles with ballooning costs, Reuters reports.

Mr. Williams reportedly said: "The availability of highly skilled labour is a challenge to oil sands, so we are looking at the option to help with that." He also said Suncor can meet its target of increasing its oil sands production capacity by about 10% per year through 2020.

SU closed at $27.05 yesterday.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: SU



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