Another Chinese oilsands investment approved

Posted on June 30, 2010

On June 25, 2010, the Minister of Industry, Tony Clement, announced that he had approved Sinopec’s acquisition of a 9% interest in Syncrude under the Investment Canada Act.  The Minister stated that he had considered Sinopec’s plans, undertakings and other information and emphasized that the transaction would not change the level of Canadian ownership of Syncrude which will remain at 56%.

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