French Total exits Canada’s Joslyn oil sands pro

摘要

LONDON (ICIS)--Total has sold its 38.25% stake in the Joslyn oil sands project in Alberta, Canada, to Canadian Natural Resources Limited (CNRL) for Canadian dollar (C$) 225m ($173m), the French energy and petrochemicals major said on Friday. Reducing exposure to Canada’s oil sands was in line with Total’s strategy to focus its oil investments on low break-even resources and develop “a resilient portfolio” in the mid and long term, said CEO Patrick Pouyanne.