Canada is rolling as recent acquisitions and potential investments of $60 billion signal it’s the place to be for national and international oil companies, said Asit Sen, director of integrated oils and major producers at Dahlman Rose & Co.“Canada is open for business,” he said.

Last month, takeovers by Chevron (NYSE: CVX) and ExxonMobil (NYSE: XOM) in Canada worth about $20 billion were approved by regulators. And the country’s ties with Asian economies continue to strengthen, though not without concern.

Since China-owned CNOOC (NYSE: CEO) acquired Nexen and Malaysia's state-owned ...