Keystone Risk Worries U.S. Oil Sands Investors: Corporate Canada
This article is for subscribers only.
U.S. investors cut stakes in oil-sands stocks, including Suncor Energy Inc. and Cenovus Energy Inc., as delays to the Keystone XL project and the lack of pipeline capacity depressed Canadian crude prices.
U.S. ownership of Calgary-based Suncor, Canada’s largest energy company, fell 8.2 percentage points in the past three years while Cenovus saw its U.S. shareholder base fall 5.9 percentage points, according to data compiled by Bloomberg.