Posts Tagged PetroChina

Athabasca Oil Sands Corp. said it entered into a series of agreements with PetroChina International Investment Co., a unit of of PetroChina Co., where PetroChina will acquire a 60 per cent working interest in Athabasca’s MacKay River and Dover oil sands projects for a consideration of C$1.9 billion ($1.73 billion).

The projects are located in the centre of the Athabasca area in northeastern Alberta and have been independently assessed to contain about 5 billion barrels of best case contingent bitumen resource.

http://www.bloomberg.com/apps/news?pid=20601087&sid=anEnefa1Nklg

www.crinvestmentadvisors.com

Family Office

PetroChina Co., the listed unit of China National Petroleum Corp., Tuesday signed a liquefied natural gas import deal with ExxonMobil Corp. worth an estimated A$50 billion ($41.03 billion) over the next 20 years, Australian Energy and Resources Minister Martin Ferguson said.

The LNG supplied to PetroChina will come from Exxon’s 25% share of the huge Gorgon gas field offshore of Australia, Mr. Ferguson said, bringing the Gorgon project another step closer to fruition.

Exxon will supply 2.25 million metric tons of LNG a year to PetroChina from Gorgon under the long-term deal.

In other words, long term planning.

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International Wealth Management and Managed Accounts