Canada’s biggest energy firm and the largest oil sands outfit Suncor Energy Inc. (SU - Analyst Report) has been a Zacks #1 Rank (Strong Buy) stock since May 17, 2011. The independent energy exploration and production company has seen its estimates move up following its robust first quarter results in early May. Suncor’s attractive fundamentals, positive outlook, and the recent optimism about economic recovery have inspired this bullishness.
SUNCOR ENERGY INC. Mining News
Daily Oil Bulletin reports Canada's total proved oil and liquids reserves continued to climb in 2010, rising to just under 22bn barrels, up 6.6% from year end 2009. About 77% of the booked reserves came from Alberta's oil sands. The news comes as Canada’s oil sands are coming under increased scrutiny: the Vancouver Sun reported on Monday that the federal government deliberately excluded data indicating a 20% increase in annual pollution from the oil sands industry in a report to the UN. Last week during Congressional hearings it was revealed that the oils sands are poised to become the number one source of crude for the US.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – May 6, 2008) – Finning International Inc. ("Finning") (TSX:FTT) announced today that its Canadian division, Finning (Canada), has secured a major mining equipment and support services deal with Suncor Energy Inc. […]