The sale process attracted considerable attention from North American and international companies; however, the bids received did not meet Petro-Canada's expectations.
"These are high-quality oil sands assets. We put a high value on them, which was not met by the market. We would consider selling these properties in the future - if the price is right," said Neil Camarta, Petro-Canada's Senior Vice-President of Oil Sands.
Petro-Canada is one of Canada's largest oil and gas companies, operating in both the upstream and the downstream sectors of the industry in Canada and internationally.
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