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Suncor Energy (SU +1.8%) CEO Steven Williams says the company is seeking partnerships with...

Suncor Energy (SU +1.8%) CEO Steven Williams says the company is seeking partnerships with Chinese companies to help build its oil sands projects, as Canada's top oil producer struggles with soaring costs. "The availability of highly skilled labor is a challenge to oil sands, so we are looking at the option to help with that," he says.
Comments (3)
  • Is he saying they are looking at bringing in Chinese labor for this work?
    27 Jun 2012, 04:13 PM Reply Like
  • Not quite sure, that's interesting..
    27 Jun 2012, 04:15 PM Reply Like
  • "But already concerns that inflation could squeeze profit margins have been said to be a factor behind a 25 percent drop in Suncor’s share price over the past 12 months."

     

    Yet we're continually told there is no inflation......

     

    Perhaps SU is looking for "cheaper" Chinese labor. Northern Alberta is likely more difficult than other geographies to attract labor. The thrust though seems to be focused on opening bidding to Chinese companies that would be subcontractors on construction, equipment, procurement. The oil boom in NA is (or was) providing economic growth - I know several people who have moved to ND recently to work. (Google North Dakota and the first autocomplete is North Dakota Oil Jobs.)
    27 Jun 2012, 04:17 PM Reply Like
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