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.
Articles Tagged "boost"
Oil prices vaulted 9 per cent in NY Thursday, in tandem with a powerful stocks rally, as investors cheered G20 agreements to combat the global downturn and an easing of US accounting rules. On Friday, oil prices settled above $52 a barrel, slightly lower on the day after a report that US unemployment in March soared to a 25-year high. But optimism that the economy will soon turn around curtailed losses.
Crude oil traded near $45 a barrel, after rising in the past two days, as China plans to boost imports of commodities. Victor Shum, a senior principal at Purvin & Gertz Inc. in Singapore, stated: If these efforts to stockpile crude oil and oil products become a reality then it raises China’s apparent demand. For [...]
A top official of India’s leading oil exploration company, Oil India Ltd (OIL), said that the company has embarked on a massive plan to boost crude oil output from oil fields in India’s north eastern state of Assam. For full story, click here