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Canada extends review of CNOOC-Nexen deal

by on November 5, 2012 2:34 am GMT
Ottawa is currently The Chinese state-owned enterprise launched China's richest foreign takeover bid in July when it agreed to buy Nexen, whose global portfolios include oil sands and shale gas.Ottawa is currently conducting a review to determine whether the takeover would bring a "net benefit" to Canada."The

Canada delays decision on Cnooc's Nexen bid

by on November 5, 2012 12:48 am GMT
Canada delays decision on Cnooc's Nexen bidBY DEBORAH LEVINESAN FRANCISCO -- The Canadian government has again delayed a decision on whether a Chinese state owned company can take over Canadian energy producer Nexen, saying it needs more time to review whether the acquisition would have a "net benefit" to Canada.The

Petronas, Progress not giving up

by on October 22, 2012 7:55 pm GMT
Petronas, the Malaysian state oil company, agreed on Monday to extend its deadline to close the acquisition of Progress, which has extensive exploration lands in the gas-rich Montney shale region of British Columbia, by up to 90 days, Reuters reported.Canadian Industry Minister Christian Paradis said late on Friday that

Government blocks Petronas’ Progress Energy bid

by on October 22, 2012 2:49 am GMT
Canadian Industry Minister Christian Paradis said late Friday night that Petronas' bid for Progress -- one of the largest owners of exploration lands in the gas-rich Montney shale region in northeastern British Columbia -- would not provide the "net benefit" for the country required by Canada's foreign investment laws, Reuters reported