Aug. 4, 2014, 6:39 AM
- PetroChina (NYSE:PTR) plans to pay the more than $1B it needs to complete a takeover of the Dover oil sands project from Athabasca Oil (OTCPK:ATHOF) by the end of September, Reuters reports.
- PetroChina was supposed to complete the acquisition of Athabasca Oil's 40% stake in the project in June, but delayed the payment while it re-evaluated the transaction amid a government-led corruption probe into the Chinese national oil company.
- Athabasca Oil shares fell last week after it said it was still trying to collect the C$1.23B payment owed to it by a unit of PetroChina.
Jan. 3, 2012, 1:00 PM
Athabasca Oil Sands (ATHOF.PK) exercises its option to sell its 40% stake in the MacKay River oil-sands project in Alberta to joint owner PetroChina (PTR +4.9%) for C$680M ($669M). The transaction comes less than a week after regulators approved the planned 150,000-barrel-a-day project. (PR .pdf)| Jan. 3, 2012, 1:00 PM | 1 Comment