An inside source says PetroChina is trying to trim the $1.23 billion bill for the Dover project.
According to the Financial Post, a source within the company says it’s frustrated with the sale of 40 per cent stake of the property which Athabasca Corp. currently holds.
The source says the Chinese state owned company is frustrated with how much it paid for previous assets, because they just weren’t worth the price.
PetroChina officials are currently under investigation. The Chinese government is focusing on several companies, and looking into whether they paid too much for oilsands properties.
Athabasca and PetroChina started a $5 billion joint venture in 2010 to develop both Dover and the MacKay River project.
Athabasca confirmed today that it’s continuing efforts to close the deal soon.
Investment industry sources claim Athabasca is expected to sue if it doesn’t get the payment.
