08 December 2012

CANADA / CHINA / MALAYSIA / ENERGY: PM Harper Finally OKs Nexen Takeover By CNOOC; Petronas Gets OK; New Foreign Energy Restrictions Declared; Detailed Analysis.


     A long delayed decision about the $15.1 billion Nexen takeover bid by Chinese energy giant CNOOC was finally announced...approving Beijing.
     But...PM Stephen Harper announced new tougher standards for foreign control of Canada's vast crude energy reserves.
     After much debate...and anguish even among his fellow conservatives...over handing Beijing control of some valuable Alberta oil sands and North Sea assets...the deal was allowed.
      But...Harper says the next oil sands, energy...and other sensitive deals...may not be.
      Harper indicated that a less controversial $5.3 billion takeover by Malaysia's Petronas of gas company...Progress Energy Resources...would also be approved.

    TO READ: Detailed Analysis...about new restrictions on oil sands foreign ownership.