Wednesday, May 28, 2008

CNOOC in takeover talks with Canada energy firm

Chinese oil giant CNOOC is in talks with Canadian-based Talisman Energy over a possible takeover deal, a report in Hong Kong said Monday.

CNOOC, China's third largest oil company, is in discussions that could lead to asset sales or a complete takeover, the South China Morning Post said citing unnamed sources. The report also said that energy giant PetroChina was looking at taking a stake in Santos, the third largest oil and gas company in Australia.

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