The Canadian government has given itself more time to consider Chinese state-owned CNOOC’s proposed takeover of Nexen.
The government has been reviewing the £9.6billion deal since the end of August, but said yesterday it would extend the process for 30 days. CNOOC’s bid has prompted signs of unrest among some Canadian politicians, who are uncomfortable about the idea of a Chinese state-owned enterprise buying Canadian energy assets.
o North Sea oil and gas firm Ithaca Energy said yesterday it had completed the syndication of a £268million loan to fund development capital expenditure and future asset acquisitions. The deal involves seven banks, including Lloyds TSB, Bank of America, Deutsche Bank and the Royal Bank of Scotland.