Cnooc to Acquire Nexen for $15 Billion – NYTimes.com

Cnooc to Acquire Nexen for $15 Billion – NYTimes.com.

Nader Nazemi-CNOOC-Nexen

An oil sands mine in Fort McMurray, Alberta, that is operated by Syncrude, a joint venture of several companies, including Nexen.

Those are some big consolidation moves in the Global Economy and Especially natural resources.

The great energy rush continues.

On Monday, Cnooc, the Chinese state-run oil giant, agreed to buy Nexen of Canada for $15 billion, as global players look to beef up their access to natural resources.
Under the terms of the deal, Cnooc will pay $27.50 a share for the Canadian oil and natural gas company. The price is 61 percent above Nexen’s closing price on Friday.
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s