The Harper government may be unveiling its foreign take-over rules, Friday, as well as reveal decisions on two controversial energy deals.

The rules and regulations are likely to have a major financial impact on investors.

The federal government was forced into the debate after CNOOC of China offered $15-billion for Calgary’s Nexen, and Malaysia’s state-owned oil company Petronas offered $5-billion for progress energy.

According to the Globe and Mail, either Friday or Monday, the industry may announce its decision on deals, which would set the tone for future investments in the resource sector, specifically from Asian economies.

Many have expected the deals to be given a green light, but in the past, the Conservative government rejected deals involving Potash and MacDonald Dettwiler, and shares in both Nexen and Progress have traded far below the offer prices.

The European Union, meanwhile, gave its unconditional support to the Nexen deal.