Athabasca sells oil sands stake to PetroChina

摘要

Calgary—Canada’s Athabasca Oil Corp. has sold its 40% stake in the Dover Commercial Project in Alberta to its majority partner, Chinese-owned Phoenix Energy Holdings, for C$1.32 billion ($1.2 billion), the company said late Thursday. Phoenix Energy Holdings is 100% owned by PetroChina and has a 60% stake in the project. The sale was completed after Alberta Environment gave its final approval Wednesday to Athabasca Oil to go ahead with construction of the planned oil sands project, it said. The 250,000 b/d DCP will be built in five equal stages, with first oil expected in 2017, Athabasca said.