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MercoPress, en Español

Montevideo, November 22nd 2024 - 14:14 UTC

Stories for September 2nd 2009

  • Wednesday, September 2nd 2009 - 07:01 UTC

    Chinese company moves heavily into Canadian oil sands

    The Chinese operation is seen as an injection boost since oil sands are believed to be profitable when the oil barrel is above 80 US dollars.

    PetroChina plans to acquire a majority stake in Canada’s Athabasca Oil Sands which holds the largest lease in Alberta’s oil sands. The 1.7 billion US dollars deal with Asia’s largest oil company means taking control of 60% of the 1.3 million acres of oil sand leases held by Athabasca.

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