Chinese energy giant CNOOC is looking at building a multi-billion-dollar floating liquefied natural gas plant to produce gas from the South China Sea.» Read More
Some of the names on the move ahead of the open.
Asian shares touched a 16-month high on Monday as investors took heart from rising factory output growth in China and a falling unemployment rate in the United States that raised hopes about the outlook for the world's top two economies.
Damon Vickers, MD & CIO, Damon Vickers & Co. expects China's demand for resources will fuel its takeover appetite. He adds that China will soon take over swathes of industries in the West.
Glenn Maguire, Principal & Chief Economist, Asia Sentry Advisory says Canada's approval of CNOOC's bid for Nexen will set an important precedent. He adds that Canada will need Chinese investment to tap its immense reserves.
A group linked to Thailand's richest man, Dhanin Chearavanont, has bought global bank HSBC's entire stake in China's Ping An Insurance for $9.38 billion.
Jim Prentice, vice chairman at CIBC, talks to CNBC about CNOOC's planned $15-billion purchase of Canada's Nexen and whether it will be allowed to go through.
Shares in BG Group fell by a fifth after the FTSE 100 oil and gas group cut its production forecast for this year and next. The company attributed the slide in the production outlook to a series of deferrals or delays on projects in the North Sea, USA, Egypt and Brazil.
CALGARY, Alberta-- Canadian oil and gas producer Nexen says it continues to expect the $15.1 billion takeover of the company by Chinese state-owned CNOOC to be completed by the end of the year. It would be China's biggest overseas energy acquisition.
Neil Beveridge, Senior Oil Analyst, Sanford C. Bernstein discusses Canada's openness to foreign investment after the government rejects Petronas' bid for Progress Energy.
TORONTO-- Canada has blocked the Malaysian state-owned oil firm Petronas' US $5.2 billion bid for gas producer Progress Energy Resources, saying the proposed investment would not provide a net benefit to Canada. "Canada has a long-standing reputation for welcoming foreign investment.
*Harper says wants growing relationship with China. DAKAR, Oct 12- Canadian Prime Minister Stephen Harper said on Friday that his country wants a growing relationship with China, but that its investments must be scrutinized from a national security perspective.
DAKAR, Oct 12- Canadian Prime Minister Stephen Harper said on Friday that his country wants a growing relationship with China, but that its investments must be scrutinized from a national security perspective.
The country's new government says its approach will be non-interference in Quebec's affairs, and gave no sign it will laud unity. The former French president Nicolas Sarkozy had broken with tradition by taking sides in the Canadian national unity debate, suggesting that Quebec sovereigntists are an insular movement that is sowing division.
HONG KONG, Oct 12- Hong Kong shares are set for a slightly higher open on Friday that will lift them into positive territory for the week as hopes of more steps from China to support its domestic stock markets lure investors back into the market.
*Canada has until Nov. 11 to decide fate of CNOOC bid. OTTAWA, Oct 11- Canada said it needs more time to complete its review of a $15.1 billion Chinese bid to take over oil and gas explorer Nexen Inc, a deal that has raised fears about opening the Canadian energy sector to the Asian power's state-owned companies.
CALGARY, Alberta, Oct 11- A Canadian government review of the $15.1 billion Chinese bid for Nexen Inc will take security concerns into consideration in addition to a broader economic analysis of the transaction, Public Safety Minister Vic Toews said on Thursday.
OTTAWA, Oct 11- Canada said it needs more time to complete its review of China's CNOOC Ltd $15.1 billion bid to take over Nexen Inc, a deal that has raised fears about opening the Canadian energy sector to China's state-owned companies.
TORONTO, Oct 11- Canada extended its review of a Chinese state-owned company's $15.1 billion bid for Canadian energy producer Nexen Inc by 30 days on Thursday, giving the government more time to consider the merits of CNOOC Ltd's controversial proposal.
TORONTO-- The Canadian government announced Thursday it is extending its review period for the proposed $15.1 billion takeover of Nexen Inc. by Chinese state-owned CNOOC as it needed more time to conduct a "thorough" review of the deal _ China's biggest overseas energy acquisition.
TORONTO, Oct 10- Canada said on Thursday it has extended its review of a $15.1 billion bid by China's CNOOC Ltd. "I can confirm that the review period for China National Offshore Oil Corp's proposed acquisition of Nexen Inc. under the Investment Canada Act has been extended by 30 days," Christian Paradis, Canada's industry minister, said in a statement.