INPEX JOINS CANADIAN RUSH

A group led by Inpex is reported to have bought into the British Columbia shale gas company -Nexen Inc - for $700million. The deal involves an upfront payment of half the amount and the rest in capital spending by Inpex and the JGC Corp. A media report says Inpex has joined a rush by Asian based investors that have entered partnerships to develop Canadian energy resources. In other interesting Inpex news, not mentioned locally , it is said that the Japanese government ,with an 18 percent holding in Inpex, is likely to sell shares in the company to help finance the massive rebuilding task following the earthquake, double tsunami wave and the Fukushima disaster.