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Stock Market & Financial Investment News

News Breaks
December 9, 2012
16:01 EDTCEO, NXYCanada approves proposed acquisition of Nexen by CNOOC
Nexen (NXY) announced that under the terms of the Investment Canada Act, the Honourable Christian Paradis, Minister of Industry, has approved the proposed acquisition of Nexen by CNOOC Limited (CEO). No further approvals are required in Canada. "This is an important milestone in the process and confirms our belief that this transaction provides a number of significant benefits to Canada and to Nexen," said Kevin Reinhart, Nexen's interim President and CEO. "We remain focused on working with CNOOC to bring this transaction to a close." The closing of the acquisition remains subject to the receipt of applicable government and regulatory approvals, and the satisfaction or waiver of the other customary closing conditions.
News For NXY;CEO From The Last 14 Days
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December 15, 2014
05:44 EDTCEOCNOOC reports Liuhua 34-2 gas field commences production
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December 10, 2014
05:21 EDTCEOCNOOC signs PSCs with KUFPEC
CNOOC announced that its parent company, China National Offshore Oil Corporation, has signed three production sharing contracts, or PSCs, with KUFPEC for Blocks 52/22A52/26 and 63/13 in the South China Sea. The three blocks mentioned above are located in the Yinggehai Basin of the South China Sea. Block 52/22 covers a total area of 1,896 square kilometers, and has a water depth of 60-300 meters; Block 52/26 covers a total area of 1,783 square kilometers, and has a water depth of 80-160 meters; Block 63/13 covers a total area of 698 square kilometers, and has a water depth of 80-140 meters. According to the terms of the PSCs, CNOOC shall act as the operator of the three blocks mentioned above. Expenditures incurred during the exploration period will be borne by CNOOC and KUFPEC in a proportion of 20% and 80% of participating interest, respectively. Both parties will conduct 3D seismic data surveys and will drill exploration wells. Once entering the development phase, CNOOC has the right to participate in up to 70% of the working interest in any commercial discoveries in the blocks. After signing the abovementioned PSCs, CNOOC will assign all of its rights and obligations under such contracts, except for those relating to CNOOC's administrative functions, to CNOOC China Limited, a subsidiary of CNOOC Limited.
December 8, 2014
05:55 EDTCEOCNOOC announces first production from K1A
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