Press Esc to close

WorldOil

World Oil News Center



Nexen shareholders approve $15 billion CNOOC deal

CALGARY -- Shareholders in Canadian oil giant Nexen have overwhelmingly given their backing to the proposed $15.1 billion takeover of the company by China’s CNOOC.

Nexen shareholders approved the $27.50-a-share takeover in a vote. The deal still needs approval from the U.S., U.K. and Canadian governments. Canada reviews foreign acquisitions valued at more than C$330 million ($338 million) to ensure there’s “net benefit” to the country.

State-controlled Cnooc is China' s largest offshore-oil company by production. By acquiring Nexen, it would gain ownership of oil and gas reserves in western Canada, the U.K. North Sea, the U.S. Gulf of Mexico and offshore Nigeria.

 

09/20/2012

 

Bookmark and Share


WO DATA HUB

EngineeringTablesIcon-Large

Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.

WO SUPPLEMENTS

2013 Fracturing Technology

2013 Fracturing Technology

MEDIA CENTER

By Digital Publisher

Drill Bit Classifier World Oil published its renowned Drill Bit Classifier in September 2013. The Drill Bit Classifier is a comprehensive listing of major manufacturers' d...

ENERGY EVENTS