Sinopec Group Acquires 10% Interest in Canada's NLP     

China Petroleum & Chemical Corporation (Sinopec Group) acquired a 10% interest in the Northern Lights Partnership (NLP) via its subsidiary SinoCanada Petroleum Corporation (SinoCanada), from Total E & P Canada Ltd. (Total Canada), which is a wholly-owned subsidiary of Total S.A., according to Total posted on April 1st.
   NLP will be owned by Total Canada and SinoCanada, with 50% each.
   SinoCanada acquired in May 2005 a 40% interest in NLP from Synenco Energy Inc. Total Canada acquired the remaining 60% interest when it purchased Synenco Energy Inc. in 2008.
   The Northern Lights Oil Sands Project is located approximately 100 kilometers northeast of Fort McMurray, Alberta.
   Both sides will make closer efforts to develop the oil sands resources that will be necessary to meet energy needs for the next decades, and to establish access to markets in North America and Asia.