Chinese companies commit to oilsands despite setbacks and poor operating results

CALGARY -- While some European and U.S. companies cut their exposure to the Canadian oilsands, China's Big Three oil giants -- CNOOC, PetroChina and Sinopec -- seem content to let their bets ride even if the results haven't been spectacular. In 2018, PetroChina produced an average of just 7,300 barrels per day of bitumen from its MacKay River thermal oilsands project, although it was designed to produce 35,000 bpd. In June, its output was about 8,700 bpd. The Beijing-based company paid $1.9 bill