The state run Chinese oil enterprise (CNOOC) seems set to purchase the Canadian oil and gas company, Nexen. The three links below provide a lot more information, although I don’t believe the answers to my questions need any more background.
National Post (IMO, the most informative)
If the CNOOC bid gets federal approval (which depends on the deal being of “net benefit to Canada” according to the Canadian Industry Minister), I have two questions (and apologize for their parochial nature):
If, one day, the price of oil rises to, say, 300 percent of its current level, could a CNOOC-owned Nexen sell oil to China at a steep discount, far below market prices? (i.e. to support the homeland’s economy)
More generally, can a Canadian oil and gas company choose to whom they sell and at what price (recognizing that it may be irrational from a strictly financial perspective)? More specifically, if oil/gas prices skyrocketed and/or global supplies were extremely limited, can the government force the company not to export its oil/gas (i.e. force them to sell it within Canada), or export the oil/gas only if there is no domestic buyer?