CNOOC

China National Offshore Oil Corporation (CNOOC) is the third-largest national oil company in China, after CNPC (parent of PetroChina), and China Petrochemical Corporation (parent of Sinopec). It focuses on exploration and development of crude oil and natural gas offshore of China. CNOOC Group is owned by the government, and its subsidiary, CNOOC Ltd is listed in Hong Kong. Another subsidiary, China Oilfield Services, is listed in Hong Kong and New York. In July 2012, CNOOC announced an agreement to acquire Nexen, a Canadian oil and gas company, for approximately US$15.1 billion.

ENERGY

Nexen deal sees US hobble CNOOC in Gulf fields

3 Mar 2013

CNOOC's purchase of Nexen includes about 200 deep-water leases in the Gulf. The company surrendered operating control of them to quell US national security concerns.

China’s CNOOC agrees to alter Nexen’s US oil lease, says reports

2 Mar 2013

Chinese oil giant CNOOC Ltd has agreed to changes its oil-drilling leases in the Gulf of Mexico to quell US national security concerns as a condition for US approval of its $15 billion (HK$116.32...

CNOOC gives Nexen chief free rein

1 Mar 2013

Chinese oil company CNOOC, its takeover of Canada's Nexen complete, is giving the leader of the Canadian unit freedom to get operations running smoothly after an exhaustive seven-month acquisition...

CNOOC closes US$15.1b acquisition of Nexen

26 Feb 2013

The contentious US$15.1 billion takeover of Canadian oil and gas company Nexen by Chinese state-owned entity CNOOC closed on Monday, more than seven months after China’s largest-ever foreign...

CNOOC will face serious challenges managing Nexen

20 Feb 2013

CNOOC's acquisition of Nexen is being watched closely, given that it is China's largest overseas investment acquisition to date. How the China National Offshore Oil Corporation integrates and...

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CNOOC jumps last hurdle to buy Nexen

CNOOC, China's biggest oil and natural gas producer, has won approval to acquire the US assets of Nexen, its last regulatory challenge in the US$15.1 billion purchase of the Canadian energy...

China’s deep-sea oil rig under repair after leaks found

China’s US$1-billion deep-sea drilling rig, the first of its kind designed and built at home, is being repaired after leaks in a pump room while it was being worked in the South China Sea, state...

More demanding tasks set to bring more income at COSL

The nation's dominant offshore oil-drilling services provider, China Oilfield Services Ltd (COSL), expects the basic drilling rate it charges its customers to be flat this year, even as its...

ENERGY

CNOOC expects little change in output

The five-year target excludes new acquisitions, such as its US$15.1 billion purchase of Canadian oil and gas firm Nexen, which is pending approval by United States regulators.

CNOOC-Nexen deal opens Canadian investment door

After careful consideration, the Canadian government has finally approved the acquisition of Nexen by the China National Offshore Oil Corporation (CNOOC).

Canada approves CNOOC's Nexen takeover

Canadian Prime Minister Stephen Harper approved the HK$117 billion takeover of Canadian oil-sands firm Nexen by China's CNOOC on Friday. The deal is the largest ever takeover by a Chinese company...