Oil – Bloomberg reported that Exxon Mobil Corp wants to acquire oil blocks in Brazil and will join 70 other companies including Royal Dutch Shell, BHP Billiton, and Mitsui for an oil block auction scheduled in mid-May.
Oil – Bloomberg reported that Cnooc Ltd. has reported a lower profit for 2012 with a net income of $10.3 billion as the Chinese company focused on reviving output growth.
Oil – Reuters reported that Chinese oil company, CNOOC Ltd, which took over Canada’s Nexen Inc, has given the Canadian unit’s CEO freedom to run operations.
Gas – Yahoo Finance reported that the $15.1 billion takeover of Nexen by Chinese firm CNOOC Ltd is complete.
The world’s third-biggest economy posted its third straight quarter of contraction this week, while the giant CNOOC-Nexen deal cleared its last hurdle.
Oil – The BBC reported that the United States has approved CNOOC's (NYSE:CEO,HKEX:0883) acquisition of Canada's Nexen (NYSE:NXY,TSX:NXY). The deal has already been okayed by Canadian authorities, so approval from the US means that the path for the sale is now clear.
The Commodity Investor weighs in on how investors can benefit from a concession that is coming up for renewal in the United Arab Emirates.
Oil – A brief overview of oil price developments, supply and demand and significant market movers.
Oil – The Wall Street Journal reported that both Nexen Inc. (TSX:NXY,NYSE:NXY) and CNOOC Ltd. (NYSE:CEO) believe that CNOOC's $15.1 billion takeover offer for Nexen will go through by the fourth quarter of this year.
Oil – Bloomberg reported that following Canada's rejection of PETRONAS' bid for Progress Energy Resources Corp. (TSX:PRQ), shares of Calgary's Nexen Inc. (TSX:NXY) fell 4.4 percent, ending at C$24.04 in Toronto. Investors are concerned that CNOOC Ltd. (HKEX:0883), which wants to acquire Nexen, will also be turned down by Canada.
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