July 23, 2012 / 4:41 PM / 7 years ago

Factbox - Chinese investments in Canada's oil and gas sector

(Reuters) - State-controlled CNOOC Ltd launched China’s richest takeover bid yet on Monday by agreeing to buy Canadian oil producer Nexen Inc for $15.1 billion (9.7 billion pounds).

The move is the most ambitious foray by resource-hungry China into North American energy since a 2005 attempt to buy U.S.-based Unocal for $18.5 billion was thwarted by a political backlash there.

Also on Monday, Talisman Energy Inc said Sinopec Corp, China’s top refiner, had agreed to buy a 49 percent stake in its North Sea operations for $1.5 billion.

Below is a list of China’s other investments in Canadian oil and gas companies and assets.

February, 2012 - PetroChina agrees to buy a 20 percent stake in Royal Dutch Shell Plc’s Groundbirch shale gas property in northeastern British Columbia for an undisclosed price.

January, 2012 - PetroChina becomes the first Chinese state-owned company to wholly own a Canadian oil sands development after agreeing to buy out Athabasca Oil Sands Corp’s stake in a newly approved project for C$680 million (430.8 million pounds).

November 2011 - Nexen and CNOOC form a joint venture to explore Nexen’s Gulf of Mexico properties for an undisclosed price.

October, 2011 - Sinopec agrees to buy Canadian oil and gas explorer Daylight Energy Ltd for C$2.2 billion in cash to acquire its northeastern British Columbia shale gas holdings.

July, 2011 - CNOOC agrees to buy struggling Opti Canada Inc for $34 million and $2 billion in debt, to gain a 35 percent stake in Nexen’s underperforming Long Lake oil sands project in northern Alberta.

June, 2011 EnCana Corp and PetroChina walk away from a C$5.4 billion deal that would have seen the two form a joint venture to exploit Encana massive Cutbank Ridge gas field in northeastern British Columbia

April, 2010 - Penn West Energy Trust said it plans to sell a 45 percent stake in a Canadian oil sands project to China Investment Corp for C$817 million. Penn West contributes oil sands properties near Peace River valued at $1.8 billion to a partnership being set up with China Investment. The Chinese company will provide $312 million in upfront cash and then pay $505 million in development costs for the project.

April, 2010 - Sinopec agrees to buy ConocoPhillips’ 9.03 percent stake in Syncrude Canada Ltd. for $4.65 billion.

August 2009 - PetroChina agrees to buy a 60 percent stake in two undeveloped oil sands properties held by Athabasca Oil Sands Corp. that could eventually produce as much as 500,000 barrels per day.

April 2009 - Sinopec acquires an additional 10 percent stake in Total SA’s undeveloped Northern Lights oil sands project for a price that has not yet been disclosed. The purchase brings Sinopec’s stake in Northern Lights to 50 percent. Construction of Northern Lights, once expected to cost $10.7 billion, is on hold.

April 2005 CNOOC Ltd. pays $122 million for 16.7 percent in MEG Energy Ltd, which is developing an oil sands project in northern Alberta that could eventually pump up to 210,000 bpd, while other properties in MEG’s portfolio could eventually produce 500,000 bpd, according to company documents.

Reporting by Scott Haggett; Editing by Janet Guttsman

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