Changes to Canada’s rules governing investment by foreign state-owned enterprises may discourage Indian oil companies from participating in projects to ship natural gas from the North American country, India’s top diplomat in Ottawa said.
Brazilian energy acquisitions, on a steady decline after a record $57 billion deals in 2010, are showing signs of a revival, led by Chinese and Malaysian state- owned buyers seeking lower valuations for offshore oil fields.
China National Petroleum Corp., China’s largest oil producer, is in talks to acquire Barra Energia Petroleo e Gas, a Brazilian oil startup, for about $2 billion, people with knowledge of the matter said.
More than half the U.S. states with laws requiring utilities to buy renewable energy are considering ways to pare back those mandates after a plunge in natural gas prices brought on by technology that boosted supply.
Petroliam Nasional Bhd., Malaysia’s state energy company, said its proposed $5.2 billion takeover of Progress Energy Resources Corp. will help Canada develop gas resources and find an alternative market.
Petroliam Nasional Bhd, Malaysia’s state-owned oil and natural-gas company, agreed to buy Progress Energy Resources Corp. for C$4.8 billion ($4.6 billion), in its biggest deal as it moves to export Canadian gas to Asia.