By Claudia Cattaneo, Financial Post
Chinese petrochemical companies are beginning to back peddle on Canadian tar sands due to trouble hustling funds. Now THAT is interesting. Not too long ago, P66 signed a major deal with Sinopec to deliver massive amounts of propane. Leads one to wonder… how this will affect Rodeo’s P66 project as much of their propane was slated to come from Canadian tars sands? Sinopec seems displeased with its other Canadian energy investments, too. According to the Financial Post, the Canadian arm of China Petrochemical Corp. may back away from work on its Northern Lights oil sands lease or sell the property entirely.