On January 3, Canadian crude producer Athabasca Oil Sands Corp. announced it sold its remaining 40% interest in the MacKay River oil sands project to Cretaceous Oilsands Holdings Ltd., a wholly owned subsidiary of PetroChina International Investment Ltd.

Government backed Asian companies made further moves for global oil and gas resources this week, with the target areas ranging from Canada and the United States to Australia.

Pipeline and energy storage company Kinder Morgan Energy Partners LP said Wednesday that it will invest roughly $210 million to construct seven tanks with a storage capacity of 2.4 million barrels for crude oil and condensate at its Edmonton Terminal in Strathcona County, Alberta.

CNOOC Luxembourg S.a r.l, an indirect wholly-owned subsidiary of CNOOC Ltd., has completed its acquisition of OPTI Canada Inc. The total value of the consideration is approximately US$2.1 billion.

Osum Oil Sands Corp., a privately held Alberta based company, has entered into an agreement to issue to a wholly-owned subsidiary of Korea Investment Corp. 7,692,308 common shares at $13.00 per share for gross proceeds of $100 million.

US House Speaker Nancy Pelosi and recently told Canadians that she was open minded about future oil sands development and interested in hearing “both sides of the story.”

Oilsands Quest Inc. is looking to sell its Eagles Nest oil sands lease and Pasquia Hills oil shale permits after determining the assets are “non-core.”

Fuels made from Canadian oil sands result in significantly lower greenhouse gas (GHG) emissions than many commonly cited estimates, according to a new comprehensive analysis by IHS Cambridge Energy Research Associates' (IHS CERA).

Athabasca Oil Sands Corp. has entered into an agreement to purchase all of the issued and outstanding shares of early stage oil sands company Excelsior Energy Ltd. for C$144 million with an attributed value to Excelsior’s oil sands assets and proprietary technology of roughly C$89 million.

Oilsands Quest Inc. has cancelled the sale of its oil shale assets located near Pasquia Hills, Saskatchewan to Canshale Corp. as the company was unable to raise a minimum of CDN$12.5 million by July 30 – a condition of the agreement.

Avalon Oil & Gas Inc. has agreed to acquire an undivided 100% working interest in a 320-acre leasehold in Vernon County, Missouri. The leasehold contains over 70 wellbores, with over 20 wellbores equipped for production.