Oil extended losses on Wednesday, reversing a four-session rally, after US crude inventories rose by 6.3 million barrels.» Read More
Scott Darling, Head of Oil & Gas Sector Research, Barclays says the rebound in China's oil demand is not typical re-stocking ahead of the Lunar New Year. His top picks include PetroChina and CNOOC.
Asian shares ended mostly lower on Thursday, paring initial gains as investors cashed in their chips following recent rallies with demand also capped by caution ahead of Chinese data on Friday.
Chevron has signed production-sharing contracts with CNOOC for two exploration blocks in the South China Sea even after drilling three dry holes there last year.
The euro rose against the dollar Monday as comments made by Italy's prime minister allayed fears about the country's outlook.
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.