Company News
Blog: China Expands Oil Sands Interests
April 2, 2009

Sinopec has increased its stake in the major Northern Lights bitumen project in northern Alberta, bringing it to 50% ownership. Total Energy, the operator, owns the remaining 50%. The Chinese have gradually been increasing their involvement in Alberta's massive bitumen resources for several years now. An article just published by the Financial Post suggests Sinopec may be increasing its involvement further in the future, in anticipation of rising oil prices.



 
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