The consortium is comprised of CNOOC and Petrobras, Shell, Total and another state-owned Chinese oil firm China National Petroleum Corp (CNPC).
China’s oil firms have been active in buying up assets in politically unstable and dangerous regions
Beijing-based, state-owned CNOOC is China’s main offshore energy producer
Comments come on heels of new rules placing strict limits on acceptability of foreign influence
Dean of economics at the China Petroleum University says it is unclear how the Harper government is weighing the deal.
Initial 45-day review period was set to end Oct. 12; extended by 30 days
CNOOC has offered $27.50 per share in cash for Nexen
Prime Minister Harper made comments as he prepares to meet Chinese President Hu Jintao at the 21-nation APEC leaders’ summit.
Asks government to disclose criteria it is using to evaluate CNOOC takeover bid.
Industry Minister says process will initially take up to 45 days.