The opposition is accusing the Harper government of being scared of the public’s reaction to their decision on the legitimacy of a bid by a Chinese state-owned oil company to buy Nexen, a Calgary-based oil-and-gas firm.
The government announced Friday that it will extend its review of the proposed $15.1-billion deal until December 10.
The deal would see CNOOC, China National Offshore Oil Company, take a majority ownership stake in Nexen, which owns a global portfolio of oil sands and shale gas.
Ottawa is currently reviewing the deal to see if it fits with their policy that foreign investment must be of “net benefit” to Canada.
MP Peter Julian, the NDP critic for natural resources, says the government needs to come clean with Canadians on the proposed mega-deal.
“This government is not doing its job, it has created a mess out of Investment Canada and it really needs to sit down and start to put into place what the public is calling for; a clear definition of ‘net benefit’ and a transparent process that involves public consultation,” Julian said.
Critics have often said the definition of “net benefit” is too unclear and places barriers to much-needed foreign investment.
Meanwhile, opposition MPs and even some conservative MPs are concerned of the prospect of a Canadian natural resources company being owned by a Chinese state-owned firm.
Debate rages over Chinese oil company’s bid for Canadian oil company Nexen
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