ALBERTA — According to an article published in the Globe and Mail on Jan. 27, 2010, ConocoPhillips will sell its 9% stake in the Syncrude oil sands project north of Fort McMurray. One likely purchaser might be Canadian Oil Sands Trust, which currently holds a 36.47% share of the project. Other interested parties might be Chinese. The sale could gross up to $4 billion for the seller.
Our readers are reminded that ConocoPhillips had not yet made an announcement concerning its Syncrude holding at press time.
More about Canada’s original oil sands development is available at www.Syncrude.com.