United States : Cnooc In Talks To Buy StatoilHydro s US Assets -Source.Byline: manish03 Cnooc Ltd. (0883.HK, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. ) is in talks with Norway's StatoilHydro ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and (STL (STereoLithography) A 3D printing file format created by 3D Systems for its stereolithography system. Also supported by many numerical control, rapid prototyping and rapid manufacturing machines, STL provides the surface geometry of the item in triangles. .OS, STO) over a deal that would open the U.S. Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east to China's oil companies for the first time, a person familiar with the matter said. The move is significant as Cnooc's aborted $18.5 billion bid for California-based Unocal Corp. (UCL UCL University College London UCL Université Catholique de Louvain UCL UEFA Champions League UCL Upper Confidence Limit UCL University of Central Lancashire UCL Upper Control Limit UCL Unfair Competition Law UCL Ulnar Collateral Ligament ) in 2005 is widely seen as having deterred state-owned Chinese oil giants from investing in U.S. oil and gas assets. Cnooc withdrew its offer for Unocal after it drew a storm of protests from some U.S. politicians. But as tight credit has caused a lull in spending on offshore exploration, appetite for Chinese capital has grown, and opposition to Chinese investment may be less likely. StatoilHydro, which has more than 400 leases in the U.S. Gulf of Mexico, is putting on the market only five prospects, said another person familiar with the situation. The prospects include the Tucker and Krakatoa deepwater fields, the person said. The person, who didn't confirm or deny any Cnooc interest, said there's "huge interest" in the prospects and that the Norwegian oil company is negotiating with interested partners. But StatoilHydro downplayed the significance of the sale. "The fact is that we have opened dataroom for some leases that we acquired in the lease sale in 2007 and 2008, and where we have 100% ownership," said StatoilHydro spokesman Kai Nielsen. A dataroom is where vendors disclose information on the assets they're selling. "This is a normal optimization of our portfolio, and a minor adjustment covering only a handful of licenses," Nielsen said. "We cannot confirm who is considering our offer." The company didn't specifically deny being in talks with Cnooc. The U.S. Gulf of Mexico remains one of the most plentiful areas of the world for oil discoveries, with billions of barrels of crude believed to be trapped below the seabed. This is attracting Chinese companies at a time when they are encountering difficulties in tying up deals elsewhere in the world, partly because oil-rich countries want greater control over their resources. Earlier this year, a senior executive of Chevron Corp. (CVX CVX ChevronTexaco (stock symbol) CVX Comunidad de Vida Cristiana (Christian Life Community) CVX Code Veronica X (game) CVX Critical Viscosity of Xenon CVX Carrier, Experimental ) confirmed the U.S. major held talks over selling a minority interest in the Big Foot oil field in the Gulf of Mexico to China National Petroleum Corp. The talks were suspended in March, with a CNPC CNPC China National Petroleum Corporation CNPC Centro Nacional de la Productividad y la Calidad (Chile) CNPC Commander, Navy Personnel Command CNPC China National Philatelic Corporation (Chinese stamp authority) official saying at the time that CNPC found the stake offered too small. Devon Energy Corp. (DVN DVN Digital Video Network (Internet2) DVN Digital Value Network DVN Diploma in Veterinary Nursing DVN Device Number ) Chief Executive Larry Nichols said last month that Devon's ongoing sale of up to 50% of its stakes in deepwater blocks in the Gulf of Mexico has attracted interest from national oil companies, including those seeking to enter the sector for the first time, a description that would fit Chinese state firms. Cnooc could be the first Chinese firm to actually clinch a deal in the coveted cov·et v. cov·et·ed, cov·et·ing, cov·ets v.tr. 1. To feel blameworthy desire for (that which is another's). See Synonyms at envy. 2. To wish for longingly. See Synonyms at desire. region. "Cnooc expects to sign a deal with StatoilHydro soon to buy stakes in some deepwater exploration blocks in the U.S. Gulf of Mexico Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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