China-owned CNOOC applies for Nexen deal approval

Oil   Oil
By Rob Gillies on August 30, 2012

TORONTO (AP) — Chinese energy giant CNOOC has filed its formal application for Canadian government approval of its $15 billion offer for Canadian oil and gas producer Nexen Inc. It would be China's biggest overseas energy acquisition.

Canadian Industry Minister Christian Paradis said Wednesday he is conducting a review of the proposal, which was announced last month.

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