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China's CNOOC in takeover talks with Canadian energy firm: report
Hong Kong (AFP) May 26, 2008 Chinese oil giant CNOOC is in talks with Canadian-based Talisman Energy over a possible takeover deal, a report in Hong Kong said Monday. CNOOC, China's third largest oil company, is in discussions that could lead to asset sales or a complete takeover, the South China Morning Post said citing unnamed sources. The report also said that energy giant PetroChina was looking at taking a stake in Santos, the third largest oil and gas company in Australia. Oil firms have shied away from acquisitions in recent months, waiting for a correction in the record oil price. But the apparently relentless rise of crude -- which traded at more than 132 US dollars a barrel on Monday -- has led to concern that companies should make a move before potential buys become too expensive, the report said. Community Email This Article Comment On This Article Related Links Powering The World in the 21st Century at Energy-Daily.com
Analysis: To drill or not to drill?
The Dalles, Ore. (UPI) May 23, 2008 A day after oil prices topped $130 a barrel for the first time in history, U.S. lawmakers debated Thursday whether increased production at home would lower prices at the pump. |
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