Canada's Athabasca Oil Sands Corp said it has sold the remaining 40 percent of interest in the MacKay River oil sands project to a subsidiary of PetroChina

PetroChina controls Canadian oil sand project - 


from the People's Daily Online, January 4, 2012


Canada's Athabasca Oil Sands Corp said it has sold the remaining 40% of interest in the MacKay River oil sands project to a subsidiary of PetroChina, a move that will render a Chinese company full ownership of such a project for the first time. The deal with PetroChina International Investment Limited was worth C$680 million ($666 million), Athabasca said in its press release. Canadian regulators previously approved PetroChina to buy 60% of the project for C$1.9 billion in November 2011, according to Xinhuanet. The MacKay River project is located in northern Alberta of Canada, a region that contains 85% of the world's oil sand. The first phase of the project will begin in 2014, with a daily output of 35,000 barrels of oil. Its maximum daily production is expected to be 150,000 barrels, according to Xinhuanet.