Deutsche Bank eyes oil sands as Libya boils 02/23 09:32 AM
NEW YORK (MarketWatch) -- Deutsche Bank analyst Paul Sankey on Wednesday reiterated his buy rating on Canadian Natural Resources Ltd. (CNQ:$48.5600,$0.3700,0.77%) , an oil producer with operations in the oil sands of Alberta, Canada, in the face of growing political turmoil in Libya, Bahrain, and elsewhere in the region. Among U.S.-based oil firms, Marathon Oil was expected to get about 13% of its 2011 production from Libya; followed by 7% for Hess Corp. (HES:$81.8000,$1.0400,1.29%) and 2% for ConocoPhillips (COP:$77.14,00$0.5300,0.69%) , Sankey said. About two thirds of Libya's oil production comes from the eastern portion of the country, the base of opposition to Col. Moammar Gadhafi.