Feb 3, 2012 – 3:21 PM ET
Thanks to acquisitions in the past few months, the three top state-controlled Chinese oil companies have become full participants in the Canadian oil and gas scene and are in control of projects in a Western industrialized economy for the first time.
But being in control doesn’t guarantee success. Now that they are in charge of their Canadian operations, Chinese players are facing the same hurdles as other foreign acquirers to make them work – plus a few more due to cultural differences.
“They are still on a learning curve. The jury is out on how they are going to manage those companies,” said Gordon Houlden, a former senior Canadian diplomat in China who is the director of the China Institute at the University of Alberta.