Cnooc (CEO -1.3%) may need to boost investments in Canada to secure government approval for its...

|By:, SA News Editor

Cnooc (CEO -1.3%) may need to boost investments in Canada to secure government approval for its Nexen (NXY -0.3%) takeover, sources tell Bloomberg. Increased investments could boost CEO’s cost of operating NXY at a time of rising costs for oil sands producers, growing North American crude supply and a lack of pipeline infrastructure.