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Chinese investment in Canada’s oil sands (Reuters, May 13, 2010)
2010 May: China Investment Corp to buy 45% of Penn West Energy Trust project near Peace River, Alberta for C$817 million ($801 million).
2010 April: Sinopec Corp agrees to buy ConocoPhillips’ 9% stake in Syncrude Canada Ltd for $4.65 billion.
2009 August: PetroChina agrees to buy a 60% of two undeveloped oil sands properties held by Athabasca Oil Sands Corp.
2009 April: Sinopec acquires an additional 10% stake in Total SA’s undeveloped Northern Lights oil sands project.
2005 May: Sinopec acquires 40% stake in Total SA’s undeveloped Northern Lights oil sands project for C$105 million ($103 million).
2005 April: CNOOC Ltd pays C$122 million for 16.7% of MEG Energy Ltd which is developing oil sands in northern Alberta.
2005 April: Enbridge signs agreement with PetroChina to ship tar sands oil via the proposed Northern Gateway pipeline to Canadian Pacific Coast. (PetroChina withdrew from the project). |