The Canadian government will announce new guidelines designed to clarify its rules for approving foreign investments "fairly soon", Finance Minister Jim Flaherty said on Wednesday."I can't speak to the timing. I can say that it's been given priority ... we're aware of the need for clarification, yes, which the prime minister has made clear, and so it'll be addressed before long," Flaherty told reporters in Ottawa.The Conservative government says it will issue the guidelines at about the same time as its verdicts on two big foreign takeover bids.China's CNOOC Ltd has bid $15.1 billion for Canadian oil producer Nexen Inc and the deadline for the government to make a decision on the deal is Dec 10, although that can be pushed back if both parties agree. Ottawa is also studying a $5.2 billion bid by Malaysia's Petronas for Progress Energy Resources.
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 traded higher by 2.24% or $4.75/share to $216.90. In the past year, the shares have traded as low as $170.70 and as high as $234.00. On average, 103539 shares of CEO exchange hands on a given day and today's volume is recorded at 41059.
Nexen Inc. (Nexen) is an independent global energy company. Shares of NXY traded higher by 1.52% or $0.37/share to $24.72. In the past year, the shares have traded as low as $13.63 and as high as $26.21. On average, 7438240 shares of NXY exchange hands on a given day and today's volume is recorded at 1133124.
Nexen Inc. (Nexen) is an independent global energy company. Shares of NXY traded higher by 1.57% or $0.38/share to $24.55. In the past year, the shares have traded as low as $14.20 and as high as $26.70. On average, 1318040 shares of NXY.TO exchange hands on a given day and today's volume is recorded at 108348.
Progress Energy Resources Corporation is a Canada-based company, which produces natural gas. Shares of PRQ traded higher by 0.89% or $0.18/share to $20.50. In the past year, the shares have traded as low as $9.44 and as high as $22.94. On average, 2310540 shares of PRQ.TO exchange hands on a given day and today's volume is recorded at 1244402.
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