(In U.S. dollars unless noted)
Jan 20 China's Sinopec Corp (600028.SS) is
among a group of investors providing early-stage funding for
Enbridge Inc's (ENB.TO) planned C$5.5 billion ($5.5 billion)
Northern Gateway oil sands pipeline project in Western Canada.
Enbridge CEO Pat Daniel said on Thursday that Sinopec,
China's second-largest oil producer and top refiner, is among a
consortium of producers and refiners providing about C$100
million to fund the line's regulatory and development costs.
In exchange, consortium members get guaranteed space on the
line and the right to take an equity stake.
The planned pipeline would carry 525,000 barrels of oil
sands crude from Alberta to a tanker port at Kitimat, British
Columbia, on the Pacific Ocean. [ID:nN20132746]
Here is a list of other Asian oil sands investments:
* Nov. 24 - Osum Oil Sands Corp, a small privately owned
oil sands development company, sells C$100 million worth of its
shares to Korea Investment Corp, marking the sovereign wealth
fund's second investment in Canada's oil sands.
* Nov. 23 - Thailand's PTT Exploration and Production
PTTE.BK agrees to pay $2.3 billion for a 40 percent stake in
Statoil ASA's (STL.OL) (STO.N) oil sands project, marking
Thailand's first foray into the Canadian oil sands industry.
* August 2010 - Korea Investment Corp pays C$50 million for
a minor stake in Laracina Energy Ltd, a small, privately held
oil sands development company.
* May 2010 - Penn West Energy Trust PWT_u.TO sells a 45
percent stake in oil sands properties near Peace River,
Alberta, to China Investment Corp for $801 million.
* April 2010 - Sinopec agrees to buy ConocoPhillips'
(COP.N) 9.03 percent stake in Syncrude Canada Ltd, the largest
oil sands project, for $4.65 billion.
* August 2009 - PetroChina (601857.SS) agrees to buy a 60
percent stake in two undeveloped oil sands properties held by
Athabasca Oil Sands Corp (ATH.TO) that could eventually produce
as much as 500,000 barrels per day.
The Canadian government offers no opposition to the
investment by state-controlled PetroChina and formally approves
the acquisition in December.
* April 2009 - Sinopec acquires an additional 10 percent
stake in Total SA's (TOTF.PA) undeveloped Northern Lights oil
sands project for a price that has not yet been disclosed.
The purchase brings Sinopec's stake in Northern Lights to 50
percent, after buying a 40 percent interest in the project in
May 2005 for C$105 million. Construction of Northern Lights,
once expected to cost C$10.7 billion, is on hold as the
partners weigh new development options.
* November 2007 - Japan's Inpex Corp (1605.T) takes a 10
percent stake in Total's Joslyn oil sands project for an
* July 2006 - Korea National Oil Corp [KOILC.UL] pays $270
million for Newmont Mining Corp's (NEM.N) BlackGold oil sands
* April 2005 - CNOOC Ltd (0883.HK) pays C$122 million for
16.7 percent in privately held MEG Energy Ltd, which is
developing an oil sands project in northern Alberta that could
eventually pump up to 210,000 bpd, while other properties in
MEG's portfolio could eventually produce 500,000 bpd, according
to company documents.
* April 2005 - Enbridge signs an agreement with PetroChina
to ship oil on the planned Northern Gateway pipeline, which
would take oil sands crude to a deepwater port on Canada's
Enbridge has filed for regulatory approvals but PetroChina
has withdrawn from the project, citing frustration with the
* 1992 - Mitsubishi Oil Company of Alberta (Mocal), now a
unit of JX Holdings Inc (5020.T) takes a 5 percent stake in the
Syncrude Canada project.
* 1978 -Japan Canada Oil Sands Ltd, a unit of Japan
Petroleum Exploration (1662.T) acquires stakes in oil sands
properties. In 1983 the company launches a pilot thermal
development, using steam to liquefy bitumen deposits, at its
Hangingstone property in northern Alberta.
In 2008 it announces plans to expand Hangingstone's output
from 8,000 bpd with a new 35,000 bpd project. Nexen Inc
NXY.TO has a 25 percent stake in the property.
(Reporting by Scott Haggett and Jeffrey Jones; editing by Rob