Description

A 2012 article on foreign, specifically Chinese, direct investment into the Canadian oil sands industry. “China National Offshore Oil Corporation (CNOOC) Ltd.’s $15.1-billion bid for Nexen Inc. got the most attention by far: it’s the biggest-ever takeover of a Canadian company by a state-owned entity. On the same day, Talisman Energy Inc. said it would sell a 49 per cent stake in its U.K. North Sea outfit to Sinopec for $1.5 billion. ‘Virtually overnight, Chinese investment in the energy sector has doubled to over $30 billion,’ says Wenran Jiang, director of the Canada-China Energy & Environment Forum.” The article explores what increasing foreign investment in the oil sands can mean for the Canadian economy, environment, and society. 

Language: English