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Message
Ottawa Further Extends Review Period of CNOOC-Nexen Deal
Posted on 11/5/12 at 8:34 am
Posted on 11/5/12 at 8:34 am
LINK
Keeps getting extended. Decision now set for Dec 10th.
Any thoughts from the money board?
Keeps getting extended. Decision now set for Dec 10th.
quote:
There are industry watchers who are of the view that the Canadian government's decision to block the takeover of Progress Energy Resources by Malaysia's Petronas illustrates the rising global trend of resource nationalism and increases the likelihood that CNOOC's attempt to acquire Nexen could also face resistance
Any thoughts from the money board?
1
Posted on 11/5/12 at 9:02 am to smoke4life
quote:
Any thoughts from the money board?
This process is going to impact the foreign nationals buying into North American resource plays. Chesapeake, who is in serious cash raising mode right now selling assets, noted during their 3Q call that this CNOOC/Nexen issue has forced them to delay sales as some of the foreign national players are taking a more cautious approach to investing in North America. Quite a change of events for North America to become a politically questionable place to invest in oil and gas instead of a geologically limited place.
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