Canada on Friday approved two major takeovers of energy firms by the Chinese state-owned giant CNOOC and Malaysia’s national oil company Petronas — deals worth an estimated more than US$20 billion in total.
Prime Minister Stephen Harper announced regulatory approval for CNOOC’s $15.1 billion takeover of oil and gas company Nexen, and Petronas’ offer for Canadian gas producer Progress Energy Resources, estimated at $5.5 billion.
Canada approves two major energy takeovers
