California-based Chevron Corp. is looking at selling its 20 per cent stake in the Athabasca Oil Sands Project in northern Alberta, according to a media report. The company has discussed with investment banks the idea of selling its stake in the oilsands mine and upgrading project, Reuters reported Thursday, citing anonymous sources. Several foreign oil companies have reduced their oilsands holdings but that isn't necessarily a bad thing, Alberta Premier Rachel Notley said Thursday when asked about the Chevron report. Foreign companies selling oilsands assetsLast month, Shell announced it had agreed to sell most of its Canadian oilsands assets to Calgary-based Canadian Natural Resources for about C$11.1 billion. Chevron's 20 per cent stake in the project was not affected.

Source: CBC News April 13, 2017 21:11 UTC