Why China’s Oil Majors Aren’t Leaving Canada’s Oil Patch

Posted by Tsvetana Paraskova

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China’s state-held oil majors are staying in Canada’s oil sands despite challenges in production growth, unlike major European and U.S. firms that have bailed out of the higher-cost Canadian oil patch.

The three giant Chinese oil companies—PetroChina, CNOOC, and Sinopec—tell Dan Healing of The Canadian Press that they are committed to their Canadian operations, while analysts say that the Chinese energy behemoths can afford to not make…Click here for full article.

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