Earlier this week, French energy giant Total announced it would write off $9.3-billion worth of oilsands assets in Alberta and cancel its oil lobby membership in the Calgary-based Canadian Association of Petroleum Producers. While Masson said he didn't feel that would be a dominant theme in the Canadian oilsands moving forward, Total didn't represent the first example of an international company shifting focus away from those assets. Shell has gas stations around the world, as does Total," Masson said. "So you see a number of companies moving their portfolios away from the oilsands, but you also see Canadian companies doubling down on those assets because they feel they have a competitive advantage." "It may be that we see these assets change hands, probably to a Canadian company.

Source: CBC News August 01, 2020 00:58 UTC