CNPC sees PetroChina closing $1.23 bn Dover oil-sands purchase soon

BEIJING (Bloomberg) -- PetroChina Co. is committed to completing its C$1.32 billion ($1.23 billion) purchase of the stake it doesn’t own in the Dover oil-sands project in Canada soon, according to the Beijing-based company’s parent. PetroChina, China’s biggest oil and natural gas producer, is working with Calgary-based Athabasca Oil Corp. to close the purchase of Athabasca’s 40% stake in Dover, Chen Shudong, the incoming director for China National Petroleum Corp.’s Canadian unit, said in an email. The two energy producers formed a JV in 2010 to develop Dover.

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