Canada’s stance on buyers won’t cut oil growth

In other energy-rich countries, a decision to knock back a major foreign investment would likely provoke cries of resource nationalism and raise questions about prospects for oil and gas production growth.

Canada’s surprise move last week to block Malaysian state-run oil firm Petronas’ US$5.2 billion bid for Calgary-based Progress Energy has spooked some investors, and raised concerns that Chinese state firm CNOOC’s US$15.2 billion bid for Calgary-based Nexen may also be rejected.

via Business feed http://www.scmp.com/business/companies/article/1069301/canadas-stance-buyers-wont-cut-oil-growth