The federal government has approved two contentious foreign takeovers in a late-Friday announcement.
CNOOC Ltd., the Chinese National Offshore Oil Corporation, can proceed with a $15.1-billion takeover of Nexen Inc., whose shareholders have already given their approval.
Watch PrimeTime Politics Weekend (8pm ET / 5pm PT) for more on the foreign investment decision
The opposition NDP opposed the takeover plan, pointing to questions about environmental standards, Canadian jobs and the future of Nexen's head office, and the federal criteria for reviewing the "net benefit" to Canada under the Investment Canada Act.
Meanwhile, Petronas, Malaysia's state-owned oil and gas company, has been given the green light to acquire Progress Energy Resources Corp. from shareholders for $5.5 billion.
Prime Minister Stephen Harper told reporters that although Canada was open for business, that does not mean the country is "for sale" to foreign governments.
The government released guidelines for investment by "state-owned enterprises" such as CNOOC.
In a statement, NDP natural resources critic Peter Julian called the announcements "a farce" that failed to reveal what criteria the government followed.
-Andrew Thomson
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