China's CNOOC gets US approval for its takeover of Calgary-based Nexen

U.S. approval was needed because of Nexen's oil assets in the Gulf of Mexico.

With the blessing of the Committee on Foreign Investment in the United States in hand, CNOOC “now has all of the requisite approvals to proceed to close,” said a statement.

The transaction is expected to close the week of Feb. 25.

The CNOOC deal is China's largest foreign investment and its largest energy deal, according to data firm Dealogic.

Calgary-based Nexen produces the equivalent of around 213,000 barrels of oil a day, with concessions in Canada's oil sands, Britain's North Sea, Nigeria, the Gulf of Mexico and Colombia.

China, the European Union and Canada have already approved the takeover.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	Everything on the table in US-EU free trade deal: US

NEXT ARTICLE
Comcast to purchase remaining 49% NBCUniversal stake for US$18.1 bil.

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit