Energy Skts Climb On Higher Oil Prices
Shares of energy companies rallied Monday as oil traded higher amid a weakening dollar and a jump in the equities market.
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Archive for August, 2009
Operations will contain Gas Leakage Underway at ONGC Blow Out at Site
A day after a major blow out at a well of the Oil and Natural Gas Corp. near Bhayali village here, operations to arrest the gas leakage continued on Saturday even as the crisis management team reached the site to take stock of the situation.
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Suncor Energy declared Oil Sands Output Numbers for July 2009
Suncor Energy Inc. declared that production at its oil sands facility during July averaged approximately 304,000 barrels per day (bpd). Year-to-date oil sands production at the end of July averaged approximately 292,000 bpd. Suncor is targeting average oil sands production of 300,000 bpd (+5%/-10%) in 2009.
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$ Deals In The Making For Oil
Its a top oil firm after the $23-billion deal and is soon expected to be a must-have stock. Suncor Energy Inc, newly bulked up from its C$22.5 billion (US$ 20.8 billion) acquisition of Petro-Canada, would likely be the No. 2 issue on the Toronto Stock Exchange’s (TSX) benchmark index GSPTSE, with a market cap close to C$55 billion. Suncor is set to be Canada’s biggest energy company and largest industrial concern. The beefed-up firm is likely to see early demand for its shares from index funds. It is also set to attract big investors that need substantial holdings in large, liquid stock issues.
Heavy Crude Has Lost Its Shine for Refiners
U.S. refiners that turned to cheaper, dirtier crude oil in recent years in a bid to boost profits are seeing the strategy backfire as supplies of the oil dwindle.
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