31 Oct '12, 9am

Oil Trading: Dark Side of PETRONAS By Koon Yew Yin

Oil Trading: Dark Side of PETRONAS By Koon Yew Yin

Last week, the international financial media carried the story that Canada intended to block the planned $5.3bn acquisition of Calgary-based Progress Energy Resources by Petronas. According to these reports, the country’s industry minister, Christian Paradis had issued a statement saying he had written to Petronas saying he was “not satisfied that the proposed investment is likely to be of net benefit to Canada”. Much of the subsequent analysis has focused on questions related to Canada’s policy on foreign takeovers and its investment policy especially with regard to foreign state-owned entities. This should be of little interest to us. Of greater interest to Malaysians should be how the Petronas takeover of Progress will benefit our country. Is it in our best interests? What are the pros and cons of this very expensive takeover? Let us always remember that the company bel...

Full article: http://blog.limkitsiang.com/2012/10/31/oil-trading-dark-s...

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