Inhofe voices ‘serious’ security concerns over Chinese firm's oil deal

Sen. James InhofeJames (Jim) Mountain InhofeA third of Congress hasn’t held a town hall — it’s time to take action Anonymous affiliate publishes claimed list of GOP private contact info Wasting America’s nuclear opportunity MORE (R-Okla.), citing national-security concerns, is questioning a Chinese oil company’s planned purchase of the Canadian energy firm Nexen Inc., which holds substantial oil-and-gas assets in the Gulf of Mexico.

Inhofe joins a pair of senior Democrats — Sen. Charles SchumerCharles (Chuck) Ellis SchumerOvernight Health Care: Schumer calls for tying ObamaCare fix to children's health insurance | Puerto Rico's water woes worsen | Dems plead for nursing home residents' right to sue Crying on TV doesn't qualify Kimmel to set nation's gun agenda Trump knocks ‘fake’ news coverage of his trip to Puerto Rico MORE (N.Y.) and Rep. Edward MarkeyEdward (Ed) John MarkeyDems lambaste Trump’s ‘outrageous’ EPA chemical safety pick Dems plan to make gun control an issue in Nevada Dem senator pitches ideas for gun control after shooting MORE (Mass.) — in questioning state-owned CNOOC Ltd.’s proposed $15.1 billion purchase of Nexen.

“I have serious national-security concerns with the Chinese government, acting through one of its corporations, purchasing a company that will give it control over significant U.S. oil and gas resources,” Inhofe told MarketWatch in a statement.

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“This, combined with China’s closed economy, its prohibition on direct, full investment in Chinese business operations by U.S. firms, and its blatant disregard [for] U.S. intellectual property rights make this transaction even more concerning,” adds Inhofe, a senior member of the Armed Services Committee.

The Oklahoma Republican’s comments follow a late-July letter about the CNOOC-Nexen deal from Schumer to Treasury Secretary Timothy Geithner, whose department heads the inter-agency panel that reviews foreign purchases of U.S. assets that could affect national security.

Schumer similarly criticized China for failing to provide U.S. businesses access to its markets, and said Treasury should “withhold approval of this transaction until China's government has made tangible, enforceable commitments to ensure U.S. companies reciprocal treatment.”

Markey, in a separate letter to Geithner, called for action to ensure payment of Gulf of Mexico royalties from leases that currently allow royalty-free oil-and-gas production.

Another Republican, Sen. John HoevenJohn Henry HoevenThe Hill's Whip List: Republicans try again on ObamaCare repeal Air Force One is Trump’s new boardroom Overnight Finance: Trump strikes debt, spending deal with Dems | Deal shocks GOP | Fed’s No. 2 to resign | Trump keeps tax squeeze on red state Dems | House aims to pass budget next week MORE (N.D.), said in late July that he has “concerns” about the CNOOC-Nexen deal.

Hoeven and other advocates of the proposed Keystone XL pipeline have cited the planned purchase of Nexen — a significant player in the Canadian oil sands — in calling for Obama administration approval of the pipeline.

TransCanada Corp.’s proposed pipeline would bring Canadian oil sands to Gulf Coast refineries.