Company News
Blog: Report: China Looking to Increase Oilsands Exposure
February 3, 2010

In a report issued today by the Daily Oil Bulletin, China may be looking to further increase their Canadian oilsands investments, now that the Canadian federal government has provided assurances that they won't stand in the way of further acquisitions.

This comes in the aftermath of Prime Minister Stephen Harper's visit to China in December 2009. China's existing oilsands investments have been growing recently. CNOOC already has a 16.69% stake in MEG Energy, Sinopec has 40% of Synenco's Northern Lights oilsands development, and Petrochina has a 60% position in the Mackay River and Dover deposits.

China's interest in the Canadian oilsands is generally considered "win-win" by the industry, the government of Canada, and the Chinese.



 
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