Cnooc News

Hong Kong - Chinese state-owned energy giant CNOOC reported on Friday a net profit drop of more than 11 percent for 2013, amid sluggish global and domestic economic growth. Net profit for the 12 months ending December 31, 2013 was 56.46 billion yuan ($9.

Calgary - The B.C. Liberal government rejected the Enbridge Northern Gateway pipeline project shortly after they were elected to office. The project was fraught with conflict, and analysis of evidence for this pipeline approval was thorough and relentless.

Calgary - On January 11, 2013, Prime Minister Stephen Harper will meet with First Nations leaders to discuss treaty, Aboriginal rights, and economic development. First Nation Leaders demanded this meeting that was inspired by the grassroots movement Idle No More.

Ottawa - The Canadian Conservative government of Stephen Harper approved the $15.1 billion takeover of Nexen by CNOOC a Chinese state-owned enterprise, but will not approve any further takeovers by state-owned enterprises.

Calgary - The NEXEN takeover by China National Offshore Oil Corp has been given a 30 day extension and may be extended again as opposition continues to grow from all factions with the exception of investors and the energy sector.

Beijing - China National Offshore Oil Corporation continues its quest to purchase oil companies with ties to the United States, announcing on Monday a bid to takeover Canadian oil company Nexan.

Ottawa - The Canadian Industry Minister Christian Paradis has confirmed the review has started of China National Offshore Oil Company's $15.1 billion takeover deal with Calgary-based Nexen Inc.

Saskatoon - SaskOil began as a provincially owned Saskatchewan corporation in 1973. Privatization began in 1986. Eventually SaskOil assets became Canadian Occidental Energy (CanOxy) and finally Nexen in 2000. Chinese state owned CNOOC bought Nexen in July 2012.

Calgary - Calgary-based oil producer Nexen approved a takeover bid of $15.1 billion U.S. by Chinese state-owned oil producer CNOOC Ltd. The price per share would be $27.50 a full two thirds higher than the average price over the last twenty days.