Breakingviews

CNOOC pulls out stops to make Nexen bid palatable

July 23, 2012

The Chinese oil giant is paying $15.1 bln for the Canadian producer, a whopping 61 pct premium. The deal also comes with sweeteners to placate protectionists, including CNOOC promises of a secondary HQ in Calgary and a listing in Toronto. It will be hard for Ottawa to say no.

China’s insider culture stains CNOOC foreign bid

July 30, 2012

The Chinese oil producer’s $15bn bid for the Canadian Nexen isn’t directly threatened by the U.S. SEC insider trading complaint against a billionaire close to CNOOC. But the case will fortify critics who say that China has a long way to go before it can play by global rules.