Chevron Corp., North America’s second largest oil company, will increase its presence in the Canadian energy arena with a mission to construct and operate the premier liquefied natural gas (LNG) facility, Kitimat LNG. Chevron has been bolstering its position in Canada. In August the company announced that it would acquire the entire interests from Alta Energy and affiliates located in the Duvernay shale in west-central Alberta. The interest acquired totaled 67,900 net acres. This could be considered a change in strategy on the part of Chevron giving renewed interest to Canada seeing that the company did not benefit from the growth in oil sands. Chevron sold most of its Western Canadian assets early last decade. The company is expected to nearly double its workforce to fulfill these plans in conjunction with co-owners Apache Corp.
By CWAN Global Press
The Canadian Wealth Advisors Network (CWAN) was established in March of 2009 as an online forum where investment professionals share ideas and best practices that allow them to meet the growing needs of their clients. As the CWAN community grew and evolved, it was expanded to serve both advisors and investors. Garnet O. Powell, MBA, CFA is the Editor-in-Chief of the Canadian Wealth Advisors Network (CWAN) magazine. He is an investment management professional with more than 20 years of experience. linkedin.com/in/garnetpowell