Breaking News from The Globe and Mail

Japan’s Inpex gets toehold in Alberta oil sands

ROMA LUCIW

Tuesday, November 27, 2007

Inpex Holdings Inc., Japan’s largest oil explorer, has bought a stake in an Alberta oil sands project from French energy giant Total SA, its first direct investment in Canada’s energy industry.

Inpex purchased a 10 per cent interest in Total’s Joslyn oil sands project, located northwest of Fort McMurray, the company said in a statement posted on its website on Tuesday. The purchase includes stakes in three oil sands leases as well as the right to participate in building a massive upgrader near Edmonton.

The price tag of the deal between Inpex’s Canadian subsidiary, Inpex Canada, and Total was not disclosed….([1] Full Story; [2] related stories)