CNOOC-Nexen Deal: Fears Of China Security Threat Dogged Canada Debate

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NEXEN CNOOC CSIS
A man walks past the headquarters of the state-owned China National Offshore Oil Corp. (CNOOC) in Beijing, China Saturday, Dec. 8, 2012. (AP Photo/Andy Wong) | CP

In September, two months after China's state-owned CNOOC Ltd. made an unexpected $15.1-billion bid for Canadian energy company Nexen Inc., Canada's spy agency told ministers that takeovers by Chinese companies may threaten national security.

The rare warning from the Canadian Security Intelligence Service (CSIS), which was disclosed to Reuters by intelligence sources, did not stop the takeover. That was approved by Canadian authorities earlier this month.

Read the whole story at Financial Post