Canada does not have enough money to develop its oil resources and move oil to market, and therefore welcomes foreign capital, Natural Resources Minister Joe Oliver said on Tuesday.
Oliver was answering a reporter’s question about a $15.1 billion bid by China’s CNOOC Ltd to buy Canadian oil producer Nexen Inc, and the possibility of state-owned Kuwait Petroleum Corp doing a joint venture in Canada’s oil sands with Athabasca Oil Corp.
