Oil workers Chinese companies have been a major acquirer of Canadian oil & gas companies as they look for a strong presence in the country with the 3rd largest oil reserves in the world. From 2010 – 2013 Chinese companies made significant acquisitions in Canada from Sinopec’s (SNP) 9 percent stake in Syncrude Canada to China National Offshore Oil Corporation or CNOOC’s (CEO) acquisition of Nexen. As oil prices fell from over $100 per barrel in 2014 to $40 per barrel in mid-2016, it seems that Chinese firms began regretting their purchases – buckling down with a phase of cost cutting, capital postponement, and layoffs to preserve investments. While reeling from investments made at the height of the oil market, Chinese companies have not abandoned Canada’s oil & gas sector; instead, these companies are starting to approach oil investment from a value perspective. Chinese companies are being less speculative […]