Feds approve Nexen sale to China's CNOOC

A security officer keeps watch outside the headquarters of China National Offshore Oil Corp...

A security officer keeps watch outside the headquarters of China National Offshore Oil Corp (CNOOC), China's top offshore oil producer, in Beijing in this February 19, 2008, file photo. (REUTERS/Claro Cortes IV/Files)

David Akin, Parliamentary Bureau Chief

, Last Updated: 9:03 PM ET

OTTAWA -- Prime Minister Stephen Harper gave China's authoritarian rulers an early Christmas present Friday, giving them a bigger piece of Alberta's oil patch.

As a result, a company controlled by the communist government of China will be allowed to acquire Calgary oil and gas producer Nexen for $15 billion.

But in the same breath, Harper said that state-owned enterprises, from China or anywhere else, would no longer be able to buy up a Canadian company active in the oilsands.

"When we say that Canada is open for business we do not mean that Canada is for sale to foreign governments," Harper said.


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