CNOOC to Buy Bankrupt Oil Sands Player Opti

摘要

China National Offshore Oil Corp. (CNOOC) has agreed to buy struggling Canadian oil sands player Opti Canada in a US$2.1 billion deal. The acquisition, conducted through CNOOC Luxembourg, is the Chinese state giant’s second Canadian oil sands deal after its much-smaller acquisition of MEG Energy in 2005, and was timed to coincide with a visit to Beijing by new Canadian Foreign Minister John Baird (OD Jul.15’11).