Canada's ruling Conservatives will defeat a parliamentary motion asking the government to hold public consultations during its review of the $15.1 billion bid by China's state-owned CNOOC Ltd to purchase Canadian oil company Nexen Inc, Industry Minister Christian Paradis said on Wednesday.Parliament is expected to vote on the motion, presented by the main opposition party, the New Democratic Party (NDP), later on Wednesday."Oh no, we will oppose," Paradis told reporters when asked how the Conservatives would vote. The government has a majority in the House of Commons and can easily kill the proposal."What the NDP is asking is a public consultation and there is no way that, you know ... What I've said is that we have the tools we need to determine whether the transaction will provide a net benefit to Canada," he said.
CNOOC Limited is an investment holding company. The Company, along with its subsidiaries, is a producer of offshore crude oil and natural gas and an independent oil and gas exploration and production company. Shares of CEO fell by 1.16% or $-2.37/share to $201.19. In the past year, the shares have traded as low as $149.01 and as high as $234.00. On average, 132156 shares of CEO exchange hands on a given day and today's volume is recorded at 77090.
Nexen Inc. (Nexen) is an independent global energy company. Shares of NXY traded higher by 0.75% or $0.19/share to $25.51. In the past year, the shares have traded as low as $13.63 and as high as $26.21. On average, 9613410 shares of NXY exchange hands on a given day and today's volume is recorded at 5364751.
Nexen Inc. (Nexen) is an independent global energy company. Shares of NXY traded higher by 1.08% or $0.27/share to $25.22. In the past year, the shares have traded as low as $14.20 and as high as $26.70. On average, 2777010 shares of NXY.TO exchange hands on a given day and today's volume is recorded at 2679267.
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