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Cnooc's (CEO) $15B deal to take over Nexen (NXY) could provoke opposition in Canada, but the...

  • Monday, July 23, 2012, 6:32 PM ET
    Cnooc's (CEO) $15B deal to take over Nexen (NXY) could provoke opposition in Canada, but the deal, combined with Sinopec's (SNP) acquisition of 49% of Talisman (TLM) would give the state-backed Chinese companies an ~11% share of the U.K.'s oil and gas production. Yet the U.K. eagerly welcomes the deals, downplaying any risks to the security of the country's energy supply.
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    Of course it is OK. Why would the UK issue opposition to China owning something that was previously owned by Canada? It's not like its a country critical resource that the UK only wanted their companies to own previously. If they start doing that, it will be awfully hard for the UK's companies invest in China.
    23 Jul 2012, 06:38 PM Reply Like
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