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Canada Clears China's $15.1B Bid for Nexen Oil Firm
Base Map Source: National Energy Technology Laboratories
When the deal is finished, China National Overseas Oil Corporation will pay a 61 percent premium to obtain a firm with oil sand reserves in Alberta, shale gas in British Columbia and oil holdings around the world.
Nexen, in a joint project with CNOOC, is mining oil sands in the Long Lake area of Alberta, but that operation is behind schedule on its production goals.
The move by China to take a bigger stake in North American oil is expected to be a major factor for Canada in developing its energy strategy. For instance, the deal could influence the deliberations of the controversial Northern Gateway pipeline, designed to move Alberta oil sands products to Asian markets.
In 2005 CNOOC tried to acquire Unocal for $18 billion, but was frustrated by political resistance in the United States.
Recent News about oil sands
Below are any various articles and links on oil sands in our archives. The results start with our original content.
If you have questions, comments or didn't find what you were seeking, please contact us with the form below.
GlobalResourcesNews stories on the search term: oil sands
Canada Clears China's $15.1B Bid for Nexen Oil Firm
News from our recommended news reading list
Mountain of Petroleum Coke From Oil Sands Rises in Detroit
2013-05-18
Protecting Water from Oil Sands Operations: Legacy of Broken Promises
2013-04-01
Oil Sands Mining Uses Up Almost as Much Energy as It Produces
2013-02-19
Cenovus upgraded, Nexen downgraded at JPMorgan
2013-01-17
BHP Billiton sells stake in Australia gas project to PetroChina for $1.6 billion
2012-12-12
Canada Clears $15 Billion Chinese Takeover of an Energy Company
2012-12-08
Federal caribou preservation plan at odds with oilsands development
2012-10-08
Kuwait closes in on Athabasca deal
2012-09-03
First Nation says Alberta oilsands plan will 'annihilate' its lands and future
2012-08-25
Cnooc-Nexen U.S. opposition becomes bipartisan
2012-08-07
British Columbia wants more benefits from new pipelines
2012-07-24
Northern Gateway pipeline poses problems for B.C. First Nations
2012-07-23
Oil Sands Opponents Turn Focus to Enbridge's Pacific Pipeline Project
2011-11-30
Approval of Keystone Pipeline Will Pump Profits Out of Canadian Oil Sands - Money Morning
2011-11-07
Panel Says Pollution Monitoring of Canadian Oil Sands Unsatisfactory
2010-12-21
BP Investors Demand Environmental Review of Oil Sands Projects
2010-04-15
Chinese Oil Firm Buys Stake in Oil Sands for $4.65B
2010-04-12
Links for the search term: oil sands
Oil production costs by country, 2009
Map of Canadian Energy Resources
Interactive map with layers of different types of resources. The Web site also has maps of the provinces.
Alberta Oil Sands Fact Sheet
Places Alberta third in the world in proven oil reserves (169.3 billion bbls), after Saudi Arabia (260.1 billion bbls) and Venezuela 2112).
Catalyst for sulphur removal from hydrocarbons - Alberta Oil Sands Technology and Research Authority
From site: "...oil sand bitumen, large deposits of which exist in the Athabasca oil sand deposits of Alberta, Canada, contain about 4.5 to 5.0% by weight sulphur."
