Chinese State owned oil giant plans takeover of Canadian based Novus Energy.

Yes, another one bites the dust and while investors clink glasses of fine scotch as they watch the stock prices rise, I’m left wondering what this slow but steady advance of Chinese state takeovers in Canada will ultimately mean – not only for our country, but for our ability to control our own resources.

It appears I am not the only one left what the end game will be played out. This is a great read.

http://www.midasletter.com/2013/09/novus-energy-takeover-underscores-chinese-preference-canadian-acquisitions/

More recent news on Chinese interests in Canada : https://lailayuile.com/2013/08/28/petro-china-executives-face-corruption-probe/

https://lailayuile.com/2013/08/24/canada-signs-initiative-with-china-to-promote-high-level-military-exchanges/

 

*** check back in the next day or so for a more Translink revelations.

19 thoughts on “Chinese State owned oil giant plans takeover of Canadian based Novus Energy.

  1. Jay Jones

    Being Canadian these days makes me feel like I imagine I’d feel if I was on a bus speeding toward a cliff, and all the passengers were frantically yelling at the driver to turn left or right and slam on the brakes without delay, only to have the driver yell back: NO! I think it’s best for us to give those options a try once we’re airborne!

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  2. workforfun

    It is no wonder that Harper has prorogued parliament. All his nefarious deeds are starting to bite him in his not so small, a**e !
    Harper has sold out to big businesses and corporations – even to the point of jepordising Canada’s own integrity and independence. In another time this would be considered treasonous and dealt with accordingly.
    I won’t say what I think should happen to Harper as someone will get the wrong idea and shout radical extremists etc.
    I would prefer that Harper went and lived in China as most Canadians don’t want to see him back in this country.

    Thanks

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  3. anybody but Christie

    The Chinese takeover is nothing new. The Americans own our resources and have for years. This is just another country getting in on the gravy train and we stand by and let it happen. .

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  4. Mike

    I’m not sure I understand your position on this Laila? Foreign acquisition has been growing across a number of industries, not just oil and gas and not just in Canada. In this manner, Canadian interests intersect with global interests. Not much good would come about if all countries viewed themselves as islands, independent of each other.
    Oil and gas consumption is a product like any other…. we happen to have more than we need and more than we will ever use. Furthermore, if you took a more forward looking view, much oil and gas consumption is in global decline given new energy technology/alternatives and improved operating efficiency for existing products. A longer view in financial terms might suggest Canada get (take) what it can from hungry customers. China is a substantial energy consumer. But this will not always be the case.
    In point, the B.C. governments desire to export LNG and make money from it is likely also a day late and a dollar short as other countries have a lead on us which will undoubtedly lead to depressed prices for the product.
    Chinese takeovers of Canadian oil/gas companies will in some ways move Canadians away from our felt dependency and perhaps in the direction of a cleaner, greener future where oil sands and fracking will be an obsolete endeavor.
    Are there challenges and fears, of course…. but they would be far greater if we (Canada) stood by and did nothing. On this, you appear to discount the leadership role Canada has always taken, often in difficult times to keep global attention looking forward. It is the best reason so many nations wish they were like us.

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    1. Laila

      I’ve been very clear about my position so I am not sure where the confusion is.

      I have a huge issue with Chinese state owned companies buying up our resources in a very methodical manner. There is a big difference between a regular foreign investor and a foreign investor owned by the Communist Party of China. Chinas acquisitions have been very strategic.

      If you’ve read the pieces I have done the Chinese government,which is actively involved in influencing public policy decision and the creation of foreign policy in Canada – which I think they have absolutely no right to do- there would be no questions.

      Canada has not taken a leadership role whatsoever when it comes to the Chinese government. Quite the opposite actually. Do you think China allows our government to be involved in the creation of their public policy? Not a chance.

      Do you think the Chinese government would allow Canadian government owned companies to come into China and buy out their resource companies? Not happening.

      That’s the difference. Many if not most of these corporations are Chinese State owned. They are not private. It is a direct threat to the sovereignty and control over what happens in our own country when a foreign, still communist party controlled government is able to influence our government policy and buy our resources. Who do you think will be controlling the price of these resources when they eventually sell them back to us at some point if these unfettered acquisitions continue?

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      1. Mike

        Let me try this again. If you only did business with countries you approved of, your list would be very short,to the point of being dangerously uncompetitive for all Canadians. Yes, a communist regime is completely distasteful to most Canadians, however Chinese industry has participated in the open market subject to market demands, pricing and regulatory process. Look at the US, China holds a preponderance of US debt and I don’t see US domestic policy or sovereignty under threat as a result. Why then would Canada be any different?
        You appear to discount Canada’s open democratic system as vulnerable to extinction if Chinese participation occurred. I would argue just the opposite, it would make Canada’s system even stronger.
        On pricing, oil and gas will cost whatever it costs based on global demand. The Chinese may think they can control pricing but history would suggest otherwise. Arab cartel oil pricing in the 70s fell apart very quickly when members broke rank to continue selling product to the West. Yes it was disruptive and illustrative of the danger of monopolies anywhere but it didn’t harm anyone in the end.
        What China is doing, is no more or less strategic than any other country, Canada included.
        Please don’t vote me off the island Laila….. your dedication to your craft and sharp point of view is what we all need more of.

        Best regards,
        MIke

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        1. Laila

          Haha….I never vote anyone off the island, even those I disagree with.

          I never said we should stop doing business with China Mike… I said we need to be very very careful in dealing with Chinese state owned companies, in particular when it comes to our resources. There is very big differentiation between the two.

          Thank you for the kind words. I always appreciate your view point as well Mike 🙂

          Like

  5. islandcynic

    This is disturbing to say the least. What with Justin in line to be the next PM and his favourability to foreign owned resources we are toast. Literally being eaten by globalization.

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  6. Rick

    Governments especially of the G20 do exactly what they are told to do by the IMF and WTO. If a country does not bow to those Bankster Gangsters as would not Iraq, Libya, Syria and Iran they are destroyed or threatened with destruction. Can’t have a country independent of debt to the Bankster Gangsters now can we.
    Surveillance, arbitrary executions by police and unlawful detentions are now common in so called democracies as well as in communist and dictatorial regimes.
    It is all just part of the plan to create a one world government with everyone debt slaves to Bankster Gangster oligarchs.
    Until we as owners and stewards of this land convene Common Law Courts and arrest and put on trial the politicians for high treason we will continue to enjoy our debt slavery.

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  7. Pingback: Chinese Energy Companies Continue Canadian Acquisitions « Olduvaiblog: Musings on the coming collapse

  8. Curt

    http://www.reuters.com/article/2013/10/07/us-cnooc-nexen-specialreport-idUSBRE99600720131007

    And a few notations of interest from the above article:

    The company could also reap a big technology dividend for CNOOC and China. The experience of operating a major oil-sands project for the first time will give Beijing the expertise to tap its own potentially huge reserves of heavy oil, industry analysts say.

    Its executives made it a point to get to know important officials and politicians in Canada.
    Critics of China’s decade-long overseas resource-buying binge believe state-owned companies have wasted huge chunks of the money – because deals were done for political, not commercial, reasons.

    The economics for Nexen’s already-developed tar sands reserves have deteriorated.

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