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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 Post a Reply Back to Topics
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Dennisjk
Champion Author Detroit

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Message Posted: Jan 1, 2013 7:57:17 PM
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Maybe we'll get some new stories tomorrow.
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StopNrob
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GasBuddy News Article
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StopNrob
Champion Author Cincinnati

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GasBuddy News Article
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StopNrob
Champion Author Cincinnati

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GasBuddy News Article
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jrs4125
Champion Author Indiana

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Message Posted: Dec 29, 2012 3:28:23 AM
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Everything is for sale in North America.
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SkooterG
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Message Posted: Dec 29, 2012 1:06:41 AM
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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 11:50:32 PM
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This deserves to be considered very carefully
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ExplorerWA
Champion Author Washington

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Message Posted: Dec 28, 2012 11:42:40 PM
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This doesn't sound good for the US.
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KhelbenArunson
Champion Author Michigan

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Message Posted: Dec 28, 2012 11:09:50 PM
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ok
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DrCashFlow
Champion Author Massachusetts

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Message Posted: Dec 28, 2012 11:03:04 PM
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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 11:02:26 PM
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oh boy,,this sucks...
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dlzastera
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Wait and see.
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Spankster85
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Can't wait to see how this turns out.
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warlord1
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interesting to know
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Mowerman08
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Another taxpayer give away.
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barbs24
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We'll see
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PetroScopper
Champion Author Houston

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Message Posted: Dec 28, 2012 10:48:05 PM
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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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Ok
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GoGoGoodyear
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Message Posted: Dec 28, 2012 10:39:49 PM
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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 10:37:48 PM
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This will be interesting to watch how this "relationship" grows.
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clermont40miles
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Canada will be sorry they let the Chinese in the door.

Not good.
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oppdetcon
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Not Good...
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Is246
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Message Posted: Dec 28, 2012 10:33:08 PM
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ok......
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RUNNINONEMPTYFL
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Here we go again...
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mlmeng
Champion Author Michigan

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Message Posted: Dec 28, 2012 10:28:38 PM
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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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Ok because I was really holding my breath
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pastorpaulcg
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Could be troubling in the long run
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srchr
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money talks
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Sarge10
All-Star Author Detroit

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Message Posted: Dec 28, 2012 10:14:17 PM
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AND!
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1Casey
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?
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mcmonsta
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Message Posted: Dec 28, 2012 10:12:33 PM
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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
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That is so sad that this has to happen.
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Marson
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This is disturbing.
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5Golfer8
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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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ok
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TDIdave
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Okay.
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A_NY_Outlaw
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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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WHATEVER!
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73amx
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fgyiujh
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gasmack
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U.S. should deny approval.
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southrob
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and we need to drill
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RobertSpratt
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okay
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my2002m
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Another large chunk of oil being bought by China.
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Pozole
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...hey Chinada, say goodbye to your resources...
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toadNY
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I like your post dollar watcher.
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saleboss
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Doesn't sound like Canada knows what they are doing, inviting China in!
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SpankyMI
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The chinese are not your friends!
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FrankTA2
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Irrelevant to the United States.
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g747
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Ok.
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abcdMA
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Ok, whatever
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