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Sovereign Wealth Funds Briefing - Categorized | Investment

China wants Canada’s oil sands

Posted on 26 January 2011

From UPI: Energy-hungry China is seen as courting Canadian energy companies for access to the country’s vast deposits of crude oil, a provincial leader said. The state investment agency China Investment Corp. took a 45 percent stake in a separate oil sands project owned by Penn West Energy Trust as well.
Canadian oil sands deposits are estimated at more than 100 billion barrels, which puts it second only to Saudi Arabia. Saskatchewan alone holds as much as 1.2 billion barrels of crude oil……………………………………….Full Article: Source


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