Total sells interest in Joslyn oilsands project to CNRL
Published by Nicholas Woodroof,
Editor
World Pipelines,
Following the oil price fall in 2014, the project partners decided to put further development on hold; activities have since been limited to fulfilling regulatory requirements and ensuring the site’s safety.
Patrick Pouyanné, Chairman and CEO of Total, said: “Reducing our exposure to Canada’s oilsands by selling this asset is in line with our global strategy to focus our oil investments on low breakeven resources and develop a resilient portfolio in the mid and long term. It is also consistent with the gradual reduction of our stake in the Fort Hills oil sands project in 2017.”
The closing of the transaction is subject to authorisation by the Canadian Competition Bureau.
Read the article online at: https://www.worldpipelines.com/project-news/31082018/total-sells-interest-in-joslyn-oilsands-project-to-cnrl/
You might also like
The World Pipelines Podcast
Juan Caballero, Chair of the AMPP Board of Directors, talks about AMPP’s global efforts to prevent corrosion and to protect assets, offering insight into how the association listens to its members and serves the pipeline industry.
Listen for free today at www.worldpipelines.com/podcasts or subscribe and review on your favourite podcast app.
How to save a country's worth of electricity with better pump efficiency
As pressure mounts to reduce industrial energy consumption and improve sustainability, should pipeline operators refocus on pump energy efficiency? Manish Talwar, Head of Retrofits Americas at Sulzer, discusses.
