Canada-based Pacific Rubiales Energy, Colombia’s leading independent oil company, which is ranked amongst the world’s fastest growing crude producers, announced on Sunday it has agreed to buy Petrominerales, a smaller company operating in the Andean country.
It’s not often that the cities of Kuala Lumpur and Ottawa are mentioned in the same sentence. Yet the Malaysian and Canadian capitals, respectively, are at the centre of an intriguing dilemma for emerging market watchers.
Petronas, the state-owned Malaysian oil and gas group, is waiting to see whether its C$5.5bn ($5.5bn) bid for Progress Energy, a Canadian operator of huge shale gas fields, will pass muster with the Canadian authorities.
Electric cars may be struggling to build sales momentum, but that’s not stopping Chengdu Tianqi Industry from making a bold bet that demand for lithium-powered products can only go in one direction – up.
The Chinese battery maker on Monday gatecrashed US chemical maker Rockwood Holding’s bid for Perth-based miner Talison Lithium with a C$806m ($803.3m) takeover offer. The bid, at C$7.15 a share, represents a 10 per cent premium to Rockwood’s C$724m (or C$6.50 a share) bid.