MaxShimba
JF-Expert Member
- Apr 11, 2008
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HONG KONG Chinese oil company CNOOC says it has completed its $15.1 billion purchase of Canadian energy producer Nexen.
Chinas biggest overseas energy deal was finalized after winning approval from a U.S. agency that reviews takeovers by foreign companies for national security implications. The agency had a say because Nexen has Gulf of Mexico oil and gas fields.
Canada approved the deal despite worries it could lead to a flood of takeovers in the countrys oil sands sector. Canadas prime minister said approval of similar deals in the future would be unlikely.
Calgary-based Nexen also operates in western Canada, the North Sea, Africa and the Middle East.
Read more: Chinese state-owned oil company CNOOC completes $15.1B purchase of Canada’s Nexen - The Washington Post
Chinas biggest overseas energy deal was finalized after winning approval from a U.S. agency that reviews takeovers by foreign companies for national security implications. The agency had a say because Nexen has Gulf of Mexico oil and gas fields.
Canada approved the deal despite worries it could lead to a flood of takeovers in the countrys oil sands sector. Canadas prime minister said approval of similar deals in the future would be unlikely.
Calgary-based Nexen also operates in western Canada, the North Sea, Africa and the Middle East.
Read more: Chinese state-owned oil company CNOOC completes $15.1B purchase of Canada’s Nexen - The Washington Post