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Cnooc: Expect Nexen Deal to Be Completed in 1st Quarter of 2013

Fox Business --
A Cnooc spokeswoman said the deal is still awaiting overseas government approval so it couldn't be closed in the fourth quarter, as originally planned.

Earlier this month, Canada approved Cnooc's proposed acquisition of Nexen, clearing a major hurdle for the Beijing-based energy giant in completing what would be China Inc.'s biggest ever foreign acquisition. It is also the most ambitious bid by a foreign government-owned entity so far to enter North America's booming energy industry. The deal is now waiting approval by the U.S. government.

Cnooc and Nexen were already partners in developing Canada's oil sands. The Chinese company acquired Nexen's bankrupt partner, OPTI Canada Inc., which was involved in the Long Lake oil sands project, in 2011.


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Submitted Dec 28, 2012 By: RNCII
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Cnooc: Expect Nexen Deal to Be Completed in 1st Quarter of 2013 Back to Topics
REPLIES (newest first) Post a Reply
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Dennisjk
Champion Author Detroit

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Message Posted: Jan 1, 2013 6:57:17 PM

Maybe we'll get some new stories tomorrow.
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StopNrob
Champion Author Cincinnati

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Message Posted: Dec 29, 2012 8:18:50 AM

GasBuddy News Article
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StopNrob
Champion Author Cincinnati

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Message Posted: Dec 29, 2012 8:18:36 AM

GasBuddy News Article
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StopNrob
Champion Author Cincinnati

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Message Posted: Dec 29, 2012 8:18:22 AM

GasBuddy News Article
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jrs4125
Champion Author Indiana

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Message Posted: Dec 29, 2012 2:28:23 AM

Everything is for sale in North America.
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SkooterG
Champion Author Phoenix

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Message Posted: Dec 29, 2012 12:06:41 AM

Will be interesting 20 years down the road what the ramifications will be.
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SHEP20715
Champion Author Maryland

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Message Posted: Dec 28, 2012 10:50:32 PM

This deserves to be considered very carefully
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ExplorerWA
Champion Author Washington

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Message Posted: Dec 28, 2012 10:42:40 PM

This doesn't sound good for the US.
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KhelbenArunson
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Message Posted: Dec 28, 2012 10:09:50 PM

ok
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DrCashFlow
Champion Author Massachusetts

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Message Posted: Dec 28, 2012 10:03:04 PM

Not ok, not okay at all
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camaro_man
Champion Author Kitchener-Waterloo

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Message Posted: Dec 28, 2012 10:02:26 PM

oh boy,,this sucks...
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dlzastera
Champion Author Minnesota

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Message Posted: Dec 28, 2012 10:00:43 PM

Wait and see.
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Spankster85
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Message Posted: Dec 28, 2012 9:59:40 PM

Can't wait to see how this turns out.
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warlord1
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Message Posted: Dec 28, 2012 9:56:52 PM

interesting to know
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Mowerman08
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Message Posted: Dec 28, 2012 9:55:48 PM

Another taxpayer give away.
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barbs24
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Message Posted: Dec 28, 2012 9:54:22 PM

We'll see
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PetroScopper
Champion Author Houston

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Message Posted: Dec 28, 2012 9:48:05 PM

I think this deal should be carefully considered by the U.S., despite what Canada decides to do. Simply because their relationship with the Canadians will affect us negatively if it doesn't go well.
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Paul1955
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Message Posted: Dec 28, 2012 9:45:48 PM

Ok
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GoGoGoodyear
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Message Posted: Dec 28, 2012 9:39:49 PM


While the US flounders and pisses away it's resources China methodically ponders and plans it's next target. They are an odd mix, communist to the core but acting like capitalists when it's to their advantage. In this case they know that they will need to own some of this Canadian oil sand if they are to have enough oil to meet their planned future needs.
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Bleeder
Champion Author Virginia

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Message Posted: Dec 28, 2012 9:37:48 PM

This will be interesting to watch how this "relationship" grows.
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clermont40miles
Champion Author Cincinnati

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Message Posted: Dec 28, 2012 9:35:55 PM

Canada will be sorry they let the Chinese in the door.

Not good.
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oppdetcon
Champion Author Ottawa

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Message Posted: Dec 28, 2012 9:33:45 PM

Not Good...
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Is246
Champion Author Albuquerque

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Message Posted: Dec 28, 2012 9:33:08 PM

ok......
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RUNNINONEMPTYFL
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Message Posted: Dec 28, 2012 9:31:28 PM

Here we go again...
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mlmeng
Champion Author Michigan

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Message Posted: Dec 28, 2012 9:28:38 PM

China is owning more and more of the world every day. Need to monitor this closely.
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bra0712
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Message Posted: Dec 28, 2012 9:21:55 PM

Ok because I was really holding my breath
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pastorpaulcg
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Message Posted: Dec 28, 2012 9:18:54 PM

Could be troubling in the long run
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srchr
Champion Author San Jose

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Message Posted: Dec 28, 2012 9:16:26 PM

money talks
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Sarge10
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Message Posted: Dec 28, 2012 9:14:17 PM

AND!
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1Casey
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Message Posted: Dec 28, 2012 9:13:31 PM

?
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mcmonsta
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Message Posted: Dec 28, 2012 9:12:33 PM

we'll be owing china a lot in in short while if they keeep their buying up...and guess where it's going?
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kuma2000
Champion Author Honolulu

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Message Posted: Dec 28, 2012 9:10:45 PM

That is so sad that this has to happen.
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Marson
Champion Author Scranton

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Message Posted: Dec 28, 2012 9:10:11 PM

This is disturbing.
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5Golfer8
Champion Author Tucson

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Message Posted: Dec 28, 2012 9:04:37 PM

Oh whats the difference there all communist countries now. With Obama freedom is dead.

[Edited by: 5Golfer8 at 12/28/2012 10:06:33 PM EST]
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WestMichigan
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Message Posted: Dec 28, 2012 9:04:34 PM

ok
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TDIdave
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Message Posted: Dec 28, 2012 9:02:22 PM

Okay.
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A_NY_Outlaw
Champion Author Albany

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Message Posted: Dec 28, 2012 9:00:27 PM

And why not. China has quickly become a jaugernaut to say the least. They are getting ever so closer to our shores, but then again, the US relies on China for just about everything anyway, not to mention the US Debt!

If anyone still thinks our country is in 'good shape' or 'on the right path', I'm afraid they are beyond dilusional.
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Blue48
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Message Posted: Dec 28, 2012 8:53:01 PM

WHATEVER!
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73amx
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Message Posted: Dec 28, 2012 8:49:46 PM

fgyiujh
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gasmack
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Message Posted: Dec 28, 2012 8:45:41 PM

U.S. should deny approval.
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southrob
Champion Author Tucson

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Message Posted: Dec 28, 2012 8:45:41 PM

and we need to drill
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RobertSpratt
Champion Author Virginia Beach

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Message Posted: Dec 28, 2012 8:40:27 PM

okay
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my2002m
Champion Author Tulsa

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Message Posted: Dec 28, 2012 8:40:21 PM

Another large chunk of oil being bought by China.
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Pozole
Champion Author Portland

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Message Posted: Dec 28, 2012 8:38:01 PM

...hey Chinada, say goodbye to your resources...
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toadNY
Champion Author Albany

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Message Posted: Dec 28, 2012 8:37:45 PM

I like your post dollar watcher.
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saleboss
Champion Author Phoenix

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Message Posted: Dec 28, 2012 8:36:28 PM

Doesn't sound like Canada knows what they are doing, inviting China in!
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SpankyMI
Champion Author Kalamazoo

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Message Posted: Dec 28, 2012 8:33:18 PM

The chinese are not your friends!
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FrankTA2
Champion Author New York

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Message Posted: Dec 28, 2012 8:29:33 PM

Irrelevant to the United States.
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g747
Champion Author Mobile

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Message Posted: Dec 28, 2012 8:26:24 PM

Ok.
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abcdMA
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Message Posted: Dec 28, 2012 8:23:52 PM

Ok, whatever
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