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FACTBOX-Foreign majors leaving Canada's oil and gas sector
November 23, 2017 / 6:26 PM / 23 days ago

FACTBOX-Foreign majors leaving Canada's oil and gas sector

    CALGARY, Alberta, Nov 23 (Reuters) - Low oil and gas prices have spurred an
exodus on foreign oil companies from Canada's energy sector over the last year.
On Thursday South Africa's Sasol Ltd became the latest international
energy firm to say it plans to divest Canadian assets.
    The departures have raised doubts over future development prospects of the
world's third largest crude reserves and stoked criticism of federal and
provincial environmental policies that are stricter than those of the United
States.   
    
 Date    Company          Buyer        Assets                      Value
 Nov.    Sasol Ltd        Sale not     Sasol's Canadian shale      Not
 23                       yet          assets in the Montney,      determined
                          complete     which the company took a    
                                       $715 million impairment on  
                                       in 2016                     
                                                                   
 Oct. 5  Progress         Sale not     Deep Basin oil and gas      Not
         Energy, unit of  yet          asset in Alberta            determined
         Petronas         complete                                 
                                                                   
                                                                   
 July    Petronas                      Scrapped proposed LNG       Project
 25                                    project in British          would have
                                       Columbia                    cost $29
                                                                   billion
                                                                   
 July 6  Apache Corp      Paramount    Apache's Canadian           $354
                          Resources    subsidiary, Apache Canada   million
                          Ltd          Ltd                         
                                                                   
                                                                   
 June 2  Apache Corp      Cardinal     Light oil assets in         $244
                          Energy Ltd   Alberta and Saskatchewan    million
                                                                   
                                                                   
 March   ConocoPhillips   Cenovus      50 percent interest in the  $13.3
 29                       Energy       Foster Creek Christina      billion
                                       Lake oil sands partnership  
                                       and majority of its         
                                       western Canada Deep Basin   
                                       conventional gas assets     
                                                                   
                                                                   
 March   Royal Dutch      Canadian     All of Shell's in-situ,     $7.25
 9       Shell Plc        Natural      undeveloped oil sands       billion
                          Resources    interests and a 60 percent  
                          Ltd          stake in the Athabasca Oil  
                                       Sands project               
                                                                   
                                                                   
 March   Marathon Oil     Canadian     20 percent stake in the     $1.25
 9       Corp             Natural      Athabasca Oil Sands         billion
                          Resources    project                     
                          Ltd                                      
                                                                   
 Dec.    Statoil ASA      Athabasca    All oil sands assets        $620
 14,                      Oil Corp                                 million
 2016                                                              
                                                                   
 Dec.    Koch Industries               Relinquishing the           Project
 14,     Inc                           yet-undeveloped Muskwa      would have
 2016                                  thermal oil sands project   cost $600
                                                                   million
                                                                   
 
 (Reporting by Ethan Lou and Nia Williams; editing by Diane Craft)
  

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