Canada Is Open To Future Acquisitions By Chinese Energy Companies
Rigzone is reporting:
Canada is open to future acquisitions by Chinese energy companies,
its trade minister said, in a clear signal Ottawa wants deeper ties with
Beijing despite controversy over CNOOC Ltd.'s recent acquisition of
Canada's Nexen Inc.
Canadian trade minister Ed Fast said Tuesday during a visit to
Beijing that Canada was one of the world's most open investment
destinations, and that it was committed to diversifying resource exports
away from heavy reliance on the U.S.
And more:
Energy ties between Canada and China have come increasingly into the
spotlight in recent months. That is particularly so as the Obama
administration deliberates whether to approve the proposed Keystone XL
oil pipeline, which would carry heavy crude from Canada's Alberta
province to U.S. Gulf Coast refineries.
U.S. President Barack Obama rejected a version of the pipeline in
early 2012 on environmental grounds, and a decision by the
administration on a revised proposal is expected this summer.
Mr. Fast said Canada would press ahead with diversifying exports away
from the U.S. regardless of the Obama administration's eventual
decision on the pipeline, but said Keystone's approval would be
important to shoring up North American energy security
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