Monday, September 19, 2011

$15 Billion into Alberta from China

"Since the end of 2009, China National Petroleum Corporation (CNPC), China Petroleum & Chemical Corporation (Sinopec) and China National Offshore Oil Corporation (CNOOC) all have made substantial investments in the Canadian energy sector with a particular focus on the Alberta oil sands development. The China Investment Corporation - a $300 billion sovereign wealth fund - opened its first overseas office in Canada early this year and chose Canada for its only energy sector equity investment..."

And This

"These fast-paced investment activities have occurred against the backdrop of a sustained high energy demand forecast from China in the coming years and sluggish prospects for economic recovery in the United States."

Bode well for Alberta.

China isn't the only foreign investor into Alberta but their economic growth and the first $15 Billion is certainly a great start. Read More Here

To read Alberta's economic snapshot for the week of September 17, 2011 GO HERE

No comments: