Cnooc to Buy OPTI Canada for $2.1 Billion

BY YVONNE LEE

Cnooc Ltd., China's biggest offshore oil and gas producer, said Wednesday that it agreed to acquire Canadian oil-sands developer OPTI Canada Inc. at a cost of about US$2.1 billion.

The deal is the latest of a string of Chinese energy acquisitions in Canada, although it comes just weeks after the collapse of a planned $5.5 billion shale gas deal after Encana Corp. and PetroChina Co. failed to agree on terms.

Cnooc said in a statement it will make the ...

Source: http://feeds.wsjonline.com/~r/wsj/xml/rss/3_7014/~3/_qJ-aPOcUMk/SB10001424052702303795304576457121216529368.html

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