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Tue Feb 26, 2013, 01:12 AM

Chinese state-owned oil company CNOOC completes $15.1B purchase of Canada’s Nexen

Source: Associated Press

HONG KONG — Chinese oil company CNOOC says it has completed its $15.1 billion purchase of Canadian energy producer Nexen.

China’s biggest overseas energy deal was finalized after winning approval from a U.S. agency that reviews takeovers by foreign companies for national security implications. The agency had a say because Nexen has Gulf of Mexico oil and gas fields.

Canada approved the deal despite worries it could lead to a flood of takeovers in the country’s oil sands sector. Canada’s prime minister said approval of similar deals in the future would be unlikely.

Calgary-based Nexen also operates in western Canada, the North Sea, Africa and the Middle East.



Read more: http://www.washingtonpost.com/business/chinese-state-owned-oil-company-cnooc-completes-151b-purchase-of-canadas-nexen/2013/02/26/91ba4852-7fd3-11e2-a671-0307392de8de_story.html

8 replies, 1760 views

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Response to jsr (Original post)

Tue Feb 26, 2013, 01:42 AM

1. By what degree was this made possible by spying , theft of intellectual property and other nefarious

methods of competition?
China is bringing their own minors to mines in Canada recently purchased, supposedly because they are so highly qualified on the safety practices. Although they were just kicked off a mining project in Zambia due to safety violations.
How is it that we sell such important assets to a country with such violations of democracy as we practice it?
It's a well spoken comment in Chinese media "we are in the first stage of war with the United States"

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Response to WRH2 (Reply #1)

Tue Feb 26, 2013, 08:24 AM

5. Made possible

by the fact that China has the money. Nothing nefarious. Also do you really think the US has a democracy, when nothing can be done because Congress thwarts the will of the people at every turn. Elections are a joke.

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Response to WRH2 (Reply #1)

Tue Feb 26, 2013, 09:34 AM

6. I have not read that "China is bringing their own minors (sic) to mines in Canada".

Where did you read that?

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Response to jsr (Original post)

Tue Feb 26, 2013, 02:12 AM

2. The US gave its OK for a Canadian deal?

 

As for the, "China is taking over everything", no shit.

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Response to jsr (Original post)

Tue Feb 26, 2013, 05:07 AM

3. Does this mean the Keystone pipeline will benefit the "gawdless red commies?"

Shoving the pipeline up America's butt to enrich foreign nations?

WhackO.

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Response to Berlum (Reply #3)

Tue Feb 26, 2013, 10:04 AM

7. That's my question, too. Looks like the Keystone Pipeline is going to be

to benefit the Chinese in these United States.

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Response to jsr (Original post)

Tue Feb 26, 2013, 05:34 AM

4. We Owe China Lots of $$$. That's Why We Approved the Sale

 

And of course, we're addicted to crap made out of (petroleum-based) plastic. I can't wait till they have their Gulf of Mexico oil spill-BP Scale or larger. Imagine litigating that one.

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Response to jsr (Original post)

Tue Feb 26, 2013, 10:09 AM

8. Nexen now enabled to greater exploitation

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