CALGARY—A unit of Chinese state-run oil producer Co. will purchase the 40% stake it doesn’t already own in an oil-sands operation in northern Alberta for 1.32 billion Canadian dollars (US$1.2 billion) from Corp. , the Calgary-based company said Thursday. The move, first announced nearly two years ago, completes a 2010 deal that initially gave PetroChina subsidiary Brion Energy Corp. a 60% stake in the 250,000 barrel-a-day project, known as Dover. The acquisition of the remaining stake had been held up by a provincial regulatory process and a now-settled dispute with a Native American group. “We have today opted to sell our remaining ownership in projects operated by Brion Energy,” Athabasca Chief Executive Sveinung Svarte said. Representatives for Brion weren’t immediately available for comment. The acquisition gives PetroChina its second wholly owned oil-sands project in Canada, and perhaps its last. The deal was agreed to before the Canadian federal government […]