China’s ambitious entry into the Canadian oil-sands is not only turning out to be ill-timed, it is turning out to be grossly mismanaged, raising questions about the merit behind China’s $35 billion in investments in Canada’s energy sector between 2009 and 2013. China National Offshore Oil Corporation (Cnooc), China’s third-largest national oil company, purchased Nexen, Canada’s ninth-largest oil company for $15.1 billion in 2012. The deal valued the assets of Nexen at $17 per barrel. “They went in with their… Read Full Article

Source: OilPrice.com