Subject category:
Strategy and General Management
Published by:
Ivey Publishing
Version: 2018-12-04
Length: 10 pages
Data source: Published sources
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Abstract
This is a Simplified Chinese version. In 2005, China National Offshore Oil Corporation (CNOOC) began investing in Canada, when it acquired 16.69 per cent equity of MEG Energy Corp, a private Calgary-based energy company. In 2011, it acquired OPTI Canada, a Canadian oil company that had gone bankrupt, followed in 2013 by the contentious acquisition of Nexen Inc, a Canadian oil and gas company. Despite this enticing potential market and the desire to fuel China's rapidly growing economy, CNOOC faced low oil prices, slow economic growth in Canada, fierce competition from other multinational oil companies, and pressure from environmental non-governmental organizations. Given these challenges, how could CNOOC achieve success in Canada?
About
Abstract
This is a Simplified Chinese version. In 2005, China National Offshore Oil Corporation (CNOOC) began investing in Canada, when it acquired 16.69 per cent equity of MEG Energy Corp, a private Calgary-based energy company. In 2011, it acquired OPTI Canada, a Canadian oil company that had gone bankrupt, followed in 2013 by the contentious acquisition of Nexen Inc, a Canadian oil and gas company. Despite this enticing potential market and the desire to fuel China's rapidly growing economy, CNOOC faced low oil prices, slow economic growth in Canada, fierce competition from other multinational oil companies, and pressure from environmental non-governmental organizations. Given these challenges, how could CNOOC achieve success in Canada?