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China's CNOOC to launch 19 billion dollar bid for Unocal
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| Contributor | RP |
| Last Edited | RP Jun 22, 2005 08:26pm |
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| Category | General |
| Media | Website - Yahoo News |
| News Date | Thursday, June 23, 2005 02:25:00 AM UTC0:0 |
| Description | China National Offshore Oil Corp. (CNOOC) has agreed to launch the biggest ever takeover offer by a Chinese group with a 19 billion dollar bid for US oil major Unocal, according to a report.
If CNOOC were to go ahead with an attempt to take over Unocal, it would fit into a larger Chinese strategy of securing access to energy sources overseas for the country's power-hungry industries. |
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