OTTAWA (Reuters) – With deadlines fast approaching, Canada is still weighing two proposed foreign takeovers of domestic energy companies, but a top minister offered no clues on Tuesday as to when or how the government would announce the hotly debated decisions.
The government says it will unveil new policy guidelines on foreign investment at about the same time it announces verdicts on the proposed takeovers: A bid by China’s CNOOC Ltd for Nexen Inc and a bid by Malaysia’s Petronas for Progress Energy Resources Corp.
OTTAWA, Nov 26 (Reuters) – Global demand for crude is
growing so strongly that the world needs “every single drop of
Canadian oil,” the International Energy Agency’s chief economist
said on Monday, playing down fears that growing U.S. production
could hit Canadian exports.
Fatih Birol said that even if U.S. output rises as much as
the agency expects, the country would still need to import four
million barrels a day and that Canada is an obvious supplier.
OTTAWA (Reuters) – Canada’s Supreme Court on Thursday struck down the patent on global pharmaceuticals giant Pfizer Inc’s Viagra erectile dysfunction drug and opened the door to generic competition.
The court backed an appeal by Israeli-based Teva Pharmaceutical Industries Ltd – the world’s largest generic drug maker – which argued Pfizer had been too vague when filing its patent, which runs out in 2014 in Canada.
OTTAWA (Reuters) – Canada is confident the United States will approve TransCanada Corp’s controversial Keystone XL oil pipeline from Alberta’s tar sands to the Gulf Coast, Natural Resources Minister Joe Oliver said on Wednesday.
President Barack Obama, who was reelected on Tuesday, said in January he would postpone until 2013 a decision on whether to approve the $7.6 billion line, which was initially set to cross ecologically sensitive areas in Nebraska.
OTTAWA, Nov 6 (Reuters) – A top legislator in Canada’s
ruling Conservative Party on Tuesday made public his fierce
opposition to a bid by China’s CNOOC Ltd for Nexen Inc
, underlining the political challenges facing Ottawa as
it studies the takeover.
The comments from James Bezan, chair of the House of Commons
national defense committee, were among the harshest attacks any
Conservative has launched on the landmark $15.1 billion bid.
OTTAWA, Nov 2 (Reuters) – Canadian job growth stalled in
October after two months of strong hiring, Statistics Canada
data showed on Friday, confirming expectations employment gains
would ease to reflect sluggish economic growth.
The economy added 1,800 jobs in the month, even lower than
the small increase of 5,000 jobs forecast in a Reuters poll,
while the unemployment rate held steady at 7.4 percent.
OTTAWA (Reuters) – Canada and the European Union still have plenty of work to do on a proposed free trade treaty that is supposed to be finished by the end of the year, officials from both sides said on Thursday.
Canada, keen to diversify its exports away from the United States, says a deal with the European Union would increase two-way trade by 20 percent. The talks started in 2009.
OTTAWA, Oct 30 (Reuters) – Canada’s export credit agency cut
its 2012 forecast for growth in exports of goods and services on
Tuesday in the wake of the European crisis, but it said
exporters will see benefits next year from a recovery in the
U.S. private sector.
Export Development Canada said 2012 exports would increase
by 4.6 percent from 2011, down from the 7.1 percent it forecast
in April. The agency also cut its 2013 export growth forecast to
6.3 percent from an earlier 7.3 percent.
OTTAWA/CALGARY (Reuters) – Malaysian state-owned oil company Petronas was so confident last Friday that its purchase of Progress Energy Resources Corp would be approved by Canada that company officials had drafted a press release to announce the news.
At midnight Kuala Lumpur time, they were flabbergasted to learn that Ottawa wanted more time to make a decision.
OTTAWA/CALGARY, Oct 26 (Reuters) – Malaysian state-owned oil
company Petronas was so confident last Friday that its
purchase of Progress Energy Resources Corp would be
approved by Canada that company officials had drafted a press
release to announce the news.
At midnight Kuala Lumpur time, they were flabbergasted to
learn that Ottawa wanted more time to make a decision.