doubts on canada approving cnooc deal

With doubts of Canada's govt approving CNOOC's $15b takeover for Nexen Energy (due to Canada not approving a similar deal Petronas takeover of Progress Energy), has led CNOOC in taking a pre-emptive move in buying a 25% stake in QGC's Gladstone project for $6b USD.

This reinforces CNOOC is here in Australia to stay, with QGC and EXE interests.

http://www.bloomberg.com/news/2012-10-22/nexen-shares-plunge-following-petronas-rebuff.html

http://www.bloomberg.com/news/2012-10-23/canada-resource-nationalism-behind-petronas-rebuff-fitch-says.html

Chinese oil giant buys Gladstone gas stake for $5.7bn

BY: MATT CHAMBERS
From: The Australian
November 01, 2012 12:00AM

CHINA has agreed to make one of its biggest recent investments in Australia, with China National Offshore Oil Corp inking a $US6 billion ($5.7bn) deal to take a one-quarter stake in BG Group's Queensland Curtis LNG project being built at Gladstone to export coal-seam gas.

Associated with the deal is a $US60bn-plus LNG supply deal, where CNOOC will buy five million tonnes a year of LNG from BG's global gas portfolio for 20 years, making the British company the biggest supplier of the fuel to China.

http://www.theaustralian.com.au/business/mining-energy/chinese-oil-giant-buys-gladstone-gas-stake-for-57bn/story-e6frg9df-1226507888692