by Staff Writers
Ottawa (AFP) Oct 16, 2012
Nearly six in ten Canadians believe their industry minister should block the proposed takeover of Calgary-based oil and gas company Nexen by China's state-owned CNOOC, a poll showed Tuesday.
Federal Industry Minister Christian Paradis is expected to pass judgment on the $15.1 billion (11.5 billion euro) takeover bid on the basis of whether it provides a net benefit to Canada under investment laws.
The Angus Reid online public opinion survey of 1,000 Canadians found that 58 percent of respondents believe the Canadian government should nix the takeover, while only 12 percent said it should be allowed.
The majority fear that CNOOC, the China National Offshore Oil Corporation, would have a competitive advantage over public companies or believe foreign governments should not be able to control resources on Canadian soil.
The proposed takeover would be China's largest foreign investment and its largest energy deal, according to data firm Dealogic.
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GDF Suez chief confident in Brazil's electricity market
Sao Paulo (AFP) Oct 16, 2012
The GDF Suez chief executive said Tuesday his company's stake in the Estreito hydro-electric dam in northern Brazil reflected confidence in the future of the country's booming electricity market. GDF Suez CEO Gerard Mestrallet will join President Dilma Rousseff Wednesday at the inauguration of the 1,087 megawatt (MW) dam on the Toncantins river on the border between Tocantins and Maranhao st ... read more
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