Foreign ownership of oil sands assets steadily rising

35.3 per cent of the oil and gas extraction and support industry in Canada was foreign controlled in 2009.

Published December 7, 2011

On Nov. 28, China's largest offshore energy company spent over $2 billion gobbling up a Calgary-based, Israeli-backed oil sands company.

Opti Canada's sole asset was a minority stake in the Long Lake oil sands joint venture controlled by Nexen Inc., a company that suddenly found itself with a new bedfellow: the China National Offshore Oil Corporation.

That deal is actually one of the simpler...

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