As Canada’s Energy Industry Falls Apart Piece By Piece, China Considering $10 Billion USD Stake In Gigantic Saudi Aramco IPO

Canada’s energy industry is getting left behind while foreign countries get richer.

While Canada’s energy industry falls apart (with the latest loss being the shutdown of Calgary-based Houston oil & gas) other oil producing nations are continuing to get rich off oil, and plan to keep raking in the dollars for a long-time to come.

Saudi Arabia is planning the biggest Initial Public Offering of all time, as they are putting their currently state-owned energy giant Saudi Aramco on the market for investors.

And now, China is considering a huge investment.

According to BNN Bloomberg, “Chinese state-owned entities are in talks about investing a combined US$5 billion to US$10 billion in Aramco’s initial public offering, as Saudi Arabia seeks commitments from friendly governments to shore up the record share sale, people with knowledge of the matter said.

The Beijing-based Silk Road Fund is among parties that have been in discussions to buy stock in the offering, according to the people, who asked not to be identified because the information is private. Some other Chinese funds or state-owned enterprises may also join, the people said.

President Xi Jinping has been seeking to increase China’s political clout and revive ancient trading routes under his “One Belt, One Road” initiative. An investment in Aramco would cement ties with Saudi Arabia as well as provide China a way to profit from rising oil prices.”

So, Saudi Arabia is going to get richer, and Communist China is going to “profit from rising oil prices,” while our own Canadian energy industry collapses.

What a damn disgrace.

Spencer Fernando

Photo – YouTube

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Brian Dougan
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Our money….Good jobs…Our natural resources…Our standard of living….Our self-respect…Our unity…Down the drain. It is to weep.

NancyW
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NancyW

It’s back to Trudeau must go. Western Canada seems to be all that is left of this once great country, we must get a FOR Canada, for prosperity, for the people of Canada government.

Gordon Stevenson
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Nice to see the hundreds of Millions of dollars Canada invested in the China’s Asian Infrastructure Investment Bank is working against us.

shawn harris
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China willing to invest in Saudi oil is the end result of Trudeau sending out to the world his anti oil , anti business message that Canada is closed for business. Canada right now, is know amongst foreign investors as place where investment money goes to die and they see our oil industry as a overly taxed and highly regulated investment with no hope of any return on investments. Canadians and especially the oil industry will see more of these types of investment, investments that they dream about going to other countries like Saudi Arabia and especially America. And with… Read more »

Mike
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Mike

Stop trudope I’m not starving for you or any other globalist socialist misfit dictator.

Clive Edwards
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Clive Edwards

Turdo would never be permitted to do what he is doing unless he was working for someone else. In a dirty corporate takeover, the first step is to drive the share value of the target company down so the target can be acquired for the lowest possible price. Since the British Crown actually owns Canada, it is likely the Americans that want to break up Canada, drive the value of being Canadian down to rock bottom, then sweep in as corporate saviours. The yanks usually give this a try before resorting to military action. Scheer isn’t up to this dirty… Read more »