An inside source at PetroChina says the company has more than $1 billion waiting to pay for the Dover oilsands project.
The source told Reuters the state-owned company plans to close the deal by the end of September. It was supposed to make the payment in June for the 40 per cent stake Athasbasca Oil. Corp. has in the project.
But the source says a Chinese government investigation into corruption caused the delays.
Spokespeople from both companies are staying hush on the deal. A PetroChina representative told the Globe and Mail there’s no indication it won’t proceed with the project.
Athasbasca declined a comment to the paper.
