Analysis: Canada’s Conservatives split over CNOOC’s bid for Nexen

Canada’s ruling Conservative Party is split over a landmark US$15.1 billion bid by China’s CNOOC for oil producer Nexen, leaving Prime Minister Stephen Harper with a difficult final call to make.

A green light, still viewed by many as likely, would allow China’s biggest ever foreign takeover, extend China’s foothold in Canada’s crude-rich oil sands – an area with the biggest proven resources of energy outside Venezuela and Saudi Arabia – and help Beijing fulfill its drive for better access to energy resources to fuel the world’s second-largest economy.

via Business feed http://www.scmp.com/business/commodities/article/1048410/analysis-canada%E2%80%99s-conservatives-split-over-cnooc%E2%80%99s-bid-nexen