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Suncor Energy Shares Slip 3%, Amid Reports That Canadian Oil Sands Will More Than Double 2012 Capital Spending In Syncrude

Suncor Energy Inc (SU.TO) shares are trading at $29.68 this morning, a dip of 83 cents from yesterday's close. The shares touched a high of $30.58, and dipped to a low of $29.65.

Suncor shares may have been affected by a report that Canadian Oil Sands' (COS.TO) capital spending will more than double in 2012 to C$1.46 billion.

According to Bloomberg News, Canadian Oil Sands Ltd., the largest partner in Syncrude Canada Ltd., will more than double its capital spending to help increase production as much as 9.3%.

Suncor owns a stake in Syncrude.

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

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