Harper Approves CNOOC Takeover of Nexen, Voices Discomfort With SOEs

PM Stephen Harper approved China-based CNOOC’s takeover of Nexen Inc. but said Canada does not want foreign SOEs buying up the oil sands sector.
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Harper Approves CNOOC Takeover of Nexen, Voices Discomfort With SOEs
A screenshot from CBC News, taken on Dec. 7, 2012, shows Canadian Prime Minister Stephen Harper announcing that the government would allow Chinese state-owned CNOOC to take over Calgary-based Nexen Inc., while signalling Canada’s disapproval of increased takeovers by foreign state-owned enterprises in Canada's oil sands. Screenshot/CBC News
Matthew Little
Updated:
<a><img class="size-medium wp-image-1773694" src="https://www.theepochtimes.com/assets/uploads/2015/09/Screenshot-2012-12-07-at-7.12.26PM.png" alt="A screenshot from CBC News, taken on Dec. 7, 2012, shows Canadian Prime Minister Stephen Harper announcing that the government would allow Chinese state-owned CNOOC to take over Calgary-based Nexen Inc., while signalling Canada's disapproval of increased takeovers by foreign state-owned enterprises in Canada's oil sands. (Screenshot/CBC News)" width="350" height="261"/></a>
A screenshot from CBC News, taken on Dec. 7, 2012, shows Canadian Prime Minister Stephen Harper announcing that the government would allow Chinese state-owned CNOOC to take over Calgary-based Nexen Inc., while signalling Canada's disapproval of increased takeovers by foreign state-owned enterprises in Canada's oil sands. (Screenshot/CBC News)

Matthew Little
Matthew Little
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Matthew Little is a senior editor with Epoch Health.
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