Canadians oppose Chinese takeover of energy firm | Inquirer Business

Canadians oppose Chinese takeover of energy firm

/ 05:55 AM October 17, 2012

Nexen headquarters PHOTO FROM NEXENINC.COM

OTTAWA—Nearly six in 10 Canadians believe their industry minister should block the proposed takeover of Calgary-based oil and gas company Nexen by China’s state-owned CNOOC, a poll showed Tuesday.

Federal Industry Minister Christian Paradis is expected to pass judgment on the $15.1 billion (11.5 billion euro) takeover bid on the basis of whether it provides a net benefit to Canada under investment laws.

Article continues after this advertisement

The Angus Reid online public opinion survey of 1,000 Canadians found that 58 percent of respondents believe the Canadian government should nix the takeover, while only 12 percent said it should be allowed.

FEATURED STORIES

The majority fear that CNOOC [China National Offshore Oil Corp.], would have a competitive advantage over public companies or believe foreign governments should not be able to control resources on Canadian soil.

The proposed takeover would be China’s largest foreign investment and its largest energy deal, according to data firm Dealogic.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Canada, China, CNOOC, company, Energy, poll, takeover

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.