April 12, 2010

China Wants Canada's Oil Sands

Reuters reports that Chinese oil major Sinopec will buy ConocoPhillips's stake in Syncrude Canada, the world's largest oil sands project located in Manitoba. The deal is worth just under $5 billion (US dollars) and would give Sinopec nearly 10% of the project that currently produces 350,000 barrels per day. Sinopec already owns a 10% stake in French major Total's Canadian oil sands venture Northern Lights....

Labels: , , ,

Comments: Post a Comment

Subscribe to Post Comments [Atom]

<< Home

This page is powered by Blogger. Isn't yours?

Subscribe to Posts [Atom]