PetroChina: Four acquisitions blocked only Canadian oil sands tube full

Our correspondent Liu Yantao "chairman, I hear we're going to have money?" "Yes, 1.9 billion, you don't have to lose your job, and then you'll have steak!" "Well, it looks like I have to call my brother back to work." By the right, who gave the money? "From China, PetroChina.　　”　　......　　At the end of August, Canada, Athabasca Company, a jubilant. It looks like Bill Gallacher, chairman of Athabasca Company, is in good luck.　　The second day after the meeting of the Chairman of the NPC Standing Committee, Wu Bangguo, and the Canadian trade minister, the oil sands company, which is a private shareholder in Canada, is on the wards of PetroChina.　　September 1, 2009, Athabasca Oil Sands Sands announced that the company will be 1.9 billion Canadian dollar (about 1.7 billion U.S. dollars) price to PetroChina to sell two oil sands project 60% of the shares. The awkward Galacergaracer had been worried about survival before.　　Because the only thing he could play was the high cost, the risk, the dirtiest and the least energy-efficient oil placer, and he had only a small two. According to the data, Alberta, Prov. oil sands in western Canada have an area of 170,000 square kilometers, mainly concentrated in the Athabasca, Lenghu and the three regions of the Pease River. The area is 430, 72.9 and 976,000 hectares, and the total area is equal to that of Belgium. Among them, Athabasca's oil sands resources accounted for 80% of total resources, Lenghu and Pisse accounted for 12% and 8% respectively.　　Alberta Oil Sands Resource volume is 400 billion cubic meters (2.5 trillion barrels). However, according to Athabasca Company revealed that the two projects of PetroChina Investment are named Mackay and Dover, located in Canada's richest oil and gas resources in northeast Alberta, Prov.. The reserves of two projects are reduced to 5 billion barrels of crude oil, and up to 500,000 barrels of output in the future. The total capital cost is 15 billion Canadian dollars to 20 billion Canadian dollars.　　The first phase of the Mackay is scheduled to start in 2014 with a daily output of 35,000 barrels, costing about $1.1 billion. The "advantage" of this resource is Galachel. Investment Securities analyst Xiaofeng said: "The main risk of developing oil sands or crude oil price fluctuations, too low oil prices will cause losses." Since the cost of mining is between 20~40 dollars per barrel, the break-even point should be 60~70 USD/barrel at the international crude oil price. "And just before PetroChina's arrival, the big Western oil companies have shelved all the projects in the region because of falling oil prices, and the Athabasca Company is on the brink of life and death." "At present, it is difficult to finance the oil sands development project in the stock market, and PetroChina investment can ensure that the project is developed in time," Galachel said in announcing the deal. This is a very good news for Alberta and other parts of Canada. "Galachel didn't lie. Earlier, the Canadian son of Exxon Mobil, the largest oil company in the United States,The Kearl oil sands project of the Imperial Oil company delayed the start-up of the project due to a sudden fall in oil prices. The project was scheduled to start production in 2010 or 2011.　　The latest Imperial Oil company said in a statement that the project will begin its first phase of development from late 2012.　　Chicken Feather Token In 2002, the world's authoritative oil companies proposed that oil sands should be included in oil reserves, Exxon Mobil, Shell and BP, and some international strategic investors have invested heavily in cooperation with Alberta, Prov. to develop oil sands resources. "It's not an impulse to buy: The Chinese have been studying the oil sands for 10 years, one of which is the Alberta Oil Center, established by CNPC and Alberta, Prov. in Beijing."　　"Galachel said. "Despite China's oil investment projects in all parts of the world, Canada's projects are clearly more trustworthy than those in Africa and South America," The Globe and Mail, the Canadian local newspaper, commented on the acquisition.　　"This obviously becomes Athabasca's weight.　　Sveinung Svarte, president and chief executive of Athabasca, said after the deal that in addition to the $1.7 billion trillion investment, the two sides also reached a financing agreement that is a very important part of the whole deal.　　Athabasca Company took chicken feathers when token, but whether PetroChina considered "precedent"? PetroChina also reached an agreement with Canada's Embridge company in April 2005 to pave the way for the construction of the Gatwick pipeline and to export crude oil to China. According to the agreement, the crude oil will be piped by Edmund, Canada, to Prince Rupert or Kitimat in the oil sands, and then shipped to China by oil tanks.　　Now the pipeline is still under construction. In the same month, CNOOC acquired a 16.69% equity stake in the Canadian Meg energy company.　　The project is now a hot potato for CNOOC. In December 1986, Li Ka-shing spent HK $3.2 billion on a stake in a Canadian oil company, Hess, 52%, then bought a large oil placer in Alberta.　　In the first half of 2008, the company made a profit of HK $8.57 billion for Li Ka-shing, accounting for 28% of total Yellow's profits. But the company's earnings contribution dropped by 77% in the first half of the year, at just HK $1.998 billion.　　July 21, Canada's antitrust regulator, Canada's competition authority, also approved the merger of Canada's fourth-largest oil company, Suncor Energy, into Canada's third-largest oil company, Canadian oil company. The merged new oil company became Canada's largest oil company and the second da sand producer in North America.　　Husky Energy also faces huge challenges.　　Embarrassing landing since last December, PetroChina has invested 3.4 billion of dollars overseas, but has bought only a handful of assets. February 24, PetroChina's subsidiaries agreed to offer an offer to Canada's Verenex energy company at the cost of more than 400 million dollars. JuneThe Syrian government has announced that the Verenex energy access to 47 blocks of mining rights is a violation of the procedure.　　The deal ran aground. On April 17, CNPC announced a framework agreement with Kazakhstan's national oil and gas company to expand cooperation in oil and gas and 5 billion-dollar financing, including a joint takeover of Mangesh oil and gas companies. The company is one of Kazakhstan's leading oil and gas production companies, with 36 gas fields.　　But by August, the Kazakh side announced that the plan had been postponed and had no new timetable. July 3, CNPC plans to invest 17 billion of billions of dollars in a bid for Spanish oil company Repsol YPF 75% per cent of its assets in Argentina.　　The plan is now deadlocked for obvious political reasons.　　The acquisition, PetroChina first turned the capital to the north, in the industrial layout, although there is a first in Canada, the meaning of the fortress, but also reflects the helplessness of its acquisition. A high price for the Canadian Alberta, Prov. is expected to reach 35,000 barrels of daily assets, but also accounted for Athabasca's current output of 1%. What benefits will this deal bring to PetroChina?　　The deal does not guarantee that it will have access to the oil produced by the project, and the idea that the project could run within 5 years is also uncertain. Although BOC International September 2 issued an investment report to maintain the buying rating of PetroChina.　　PetroChina's A and H shares were generally the same day, as the investment would not be a boost to PetroChina's performance.　　Funding is not a problem, and reaching a deal is a problem. And do not say that the United States to take oil sands when heavy pollution, to protect the environment as a form of underestimate.　　It is understood that from 1996 to 2010, the government invested a total of 34 billion Canadian dollars in 60 major projects, improving and planning to improve oil sands mining and refining technology, expand production scale. In contrast, PetroChina's takeover needs to be approved by Canadian regulators and tested by the recent enactment of the Canadian National Security Law.　　Prior to the announcement, Athabasca had informed the Canadian federal government and the Alberta, Prov. government of the transaction. Canadian Prime Minister Stephen Harper said September 1 that the country's authorities will be under the existing law on foreign ownership, review of PetroChina's oil sands assets of Canada's acquisition conditions, "we will not set more barriers to foreign investment." ”