Cnooc Ltd 2012 Profits Decline on Slowing Output, Capital Spending
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.
Articles Tagged "nexen"
CNOOC’s Takeover of Nexen Complete, Marking China’s Largest Overseas Acquisition
Gas – Yahoo Finance reported that the $15.1 billion takeover of Nexen by Chinese firm CNOOC Ltd is complete.
CNOOC-Nexen Deal Receives US Approval, Clears Final Roadblock
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.
Alberta Searches for New Oil Marketer to Replace Nexen
Oil – Reuters reported that Alberta is currently accepting proposals from parties who may be qualified to replace Nexen Inc. (TSX:NXY) in its role as oil marketer.
Oil Market Update (December 11, 2012)
Oil – A brief overview of oil price developments, supply and demand and significant market movers.
Issues Still on the Table in NOCC Bid for Nexen
Gas – Mining Weekly reported that sticking points for China's NOCC as it continues negotiations for terms for its $15-billion bid for oil and gas producer Nexen centre around Canadian jobs and investment.
Nexen and CNOOC Confident That Takeover Will be Completed This Year
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.
PETRONAS Rejection May Hamper CNOOC’s Acquisition of Nexen
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.
An International Hit: Canadian Oil Sands Assets and Foreign Ownership
Oil – Interest in Canada's oil assets is steadily increasing, including from Indian private and public companies.
CNOOC’s Nexen Takeover Approved by Shareholders
Oil – Nexen Inc. (TSX:NXY,NYSE:NXY) announced that its shareholders approved China National Offshore Oil Corp.'s (CNOOC) takeover of the company.
