Articles Tagged "nexen"

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.