A corruption probe in China which is looking into PetroChina’s operations in the oil sands is now looking into the activities of a fourth company executive
The probe which began by just looking at PetroChina, is now looking at other oil companies including Brion Energy Corp., China National Petroleum Corp.
This is particularly troubling to Athabasca Oil Corp., which partnered with PetroChina on a $5-billion deal to develop the MacKay River and Dover oil sands projects using steam-assisted gravity drainage technology.
The Calgary based Athabasca Oil is still waiting for more than $1.2-billion from PetroChina.(source: Financial Post)