TORONTO (Reuters) - Canada does not have enough money to develop its oil resources and move oil to market, and therefore welcomes foreign capital, Natural Resources Minister Joe Oliver said on Tuesday.
Oliver was answering a question about a $15.1 billion bid by China's CNOOC Ltd to buy Canadian oil producer Nexen Inc, and the possibility of state-owned Kuwait Petroleum Corp doing a joint venture in Canada's oil sands with Athabasca Oil Corp.
"I don't want to talk about that specific proposal because it will also be reviewed by the ministry, however we know that we have a need for an immense amount of capital to build the infrastructure necessary to develop the resources and move the resources to the market. We don't have enough capital in this country and so we are welcoming capital from the outside," he told reporters.
(Reporting by Julie Gordon; Writing by Randall Palmer; Editing by Peter Galloway)
Source: http://news.yahoo.com/canada-minister-says-needs-foreign-capital-develop-oil-165956413.html
Fathers Day Quotes Stevie J mothers day 2012 cinco de mayo osama bin laden death spinal muscular atrophy brooklyn nets
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.