Ron Burgundy Posted October 20, 2012 Share Posted October 20, 2012 TORONTO/KUALA LUMPUR (Reuters) - Canada has blocked Malaysian state oil firm Petronas' C$5.17 billion ($5.22 billion) bid for gas producer Progress Energy Resources Corp, a surprise move that could signal problems for a much bigger offer by China's CNOOC Ltd for oil producer Nexen Inc. The announcement late on Friday in Canada is a blow to the expansion plans of Petronas as its domestic oil supplies shrink and it seeks to boost its resources beyond Malaysia and volatile areas such as Sudan. ... http://news.yahoo.com/canadian-government-blocks-petronas-bid-progress-energy-042352170--finance.html Quote Link to comment Share on other sites More sharing options...
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