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Ivanhoe's global energy dream falls apart as company declares bankruptcy

2015-06-04 03:15:56| Energy - Topix.net

Early last year, Ivanhoe Energy was developing an oilsands project in Alberta, had partnered with China National Petroleum Corporation on an oil play in Ecuador, was pushing ahead with a proprietary heavy oil refining technology and wanted to build an offshore floating refinery. For over a decade, the company's goal was to use a process that converts heavy oil to light oil for easier transportation and processing, which it spent $100 million to acquire in 2004.

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