Canada May Be Target for More Investments

Record high oil prices are boosting the allure for a country that holds the world’s second-largest pool of proven reserves after Saudi Arabia. That’s fueling the economy’s expansion and sparking a two-month jump in the Canadian dollar. Kinder Morgan’s $3.1 billion purchase of Terasen Inc., a Vancouver-based pipeline and natural gas company, brings the value of foreign takeovers in Canada this year to $17 billion, a 26 percent increase over the same period a year ago and the highest since 2001. Houston-based Weatherford International Ltd., CNOOC Ltd., the third largest Chinese oil producer, China Petrochemical Corp., and France’s Total also have made Canadian purchases this year.

Bloomberg