Canada’s Oil Sands Open Up To Chinese Investment

9 Jun 2017   China, Tar Sands

Canada is inviting Chinese companies to invest in its oil sands, Canada’s Natural Resources Minister Jim Carr said on Thursday, after an exodus in the past few months saw international oil majors selling a total of US$23 billion worth of assets to domestic producers. Speaking at a conference call to reporters during his trip to China, Carr said “We think there are opportunities and we laid out, along with experts from industry, what we believe to be opportunities for them,” as quoted by Reuters. “We would welcome investment from any nation that’s interested in the oil sands,” the minister noted, without giving details of what kind of Chinese investment Canada would see as welcome. The government is interested in discussing proposals case by case, he said. Chinese firms, including PetroChina, CNOOC, and Sinopec had invested in Canada’s oil sands industry between 2005 and 2012. But now, with the price […]

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