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China To Buy Canadian Energy Company

STEVE INSKEEP, host:

NPR's business news starts with a Chinese investment in Canada.

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INSKEEP: China is paying about $2 billion for a Canadian energy company. Opti Canada is an oil producer that operates in the country's oil sands but it filed for bankruptcy after running out of cash. So today China's energy giant, known as CNOOC, said it is buying the Canadian firm.

Chinese companies have been investing in energy resources around the globe and this deal follows other Chinese investments in Canada's oil sands. Transcript provided by NPR, Copyright NPR.