UPDATE: Market Chatter: Suncor Seeking Partnership with Chinese Cos; Shares Edging Up

By Midnight Trader,  June 27, 2012, 09:45:55 AM EDT

Suncor Energy Inc. (SU.TO) CEO Steven Williams said today that 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 edged up 14 cents to $27.87 with volumes of over 436,000.




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

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