Key Developments: CNOOC Ltd (CEO)
187.75USD
21 May 2013
$-0.49 (-0.26%)
$185.67
$186.26
$189.39
$185.00
245,756
102,858
$226.77
$171.00
Latest Key Developments (Source: Significant Developments)
CNOOC Ltd Announces Proposed Change Of Independent Auditors
CNOOC Ltd announced that Ernst & Young will retire as the independent auditors of the Company and its subsidiaries upon expiration of its current term of office with effect from the conclusion of the forthcoming 2012 annual general meeting of the Company (the AGM). The Board, as proposed by the audit committee of the Company, resolved to recommend the appointment of Deloitte Touche Tohmatsu as the independent auditors of the Group for the subsequent year. Full Article
CNOOC Ltd Recommends Final Dividend
CNOOC Ltd announced that the Board recommended a payment of a final dividend of HKD0.32 (tax inclusive) per share for the year ended December 31, 2012, payable on July 03, 2013 to all shareholders on the register of members of the Company on June 07, 2013 (the Record Date) subject to shareholders’ approval. Full Article
CNOOC Ltd Says Not Looking For New Deals-DJ
Dow Jones reported that CNOOC Ltd's Chief Executive said the company isn't looking for any new acquisitions in the near term after completing its $15.1-billion takeover of Canadian oil-sands producer Nexen Inc. Speaking to reporters after closing the deal earlier this week, Li Fanrong said the Nexen purchase is expected to boost Cnooc's production 20% year-over-year, and the Calgary-based producer's portfolio of assets provides significant growth opportunities. Full Article
CNOOC Ltd Completes Acquisition of Nexen Inc.
CNOOC Ltd announced that it has completed its acquisition of Nexen Inc. (Nexen). Total consideration of approximately USD15.1 billion has been paid for Nexen's common and preferred shares. Nexen will operate as a wholly owned subsidiary of CNOOC Limited, and will continue to be led by CEO, Kevin Reinhart, who has been with Nexen for over 18 years. A new Board of Directors comprised of CNOOC Limited, existing Nexen management and Canadian independent directors has been established, with Mr. Li Fanrong as Chairman of the Board. Full Article
Nexen Inc Receives All Required Regulatory Approvals With Respect To Acquisition By CNOOC Ltd
Nexen Inc announced that Nexen has received approval from the Committee on Foreign Investment in the United States (CFIUS) with respect to the proposed acquisition of Nexen by CNOOC Ltd, and now has all of the requisite approvals to proceed to close. The transaction is expected to close the week of February 25, 2013 and remains subject to customary closing conditions. Full Article
Nexen Inc Announces 30 Day Extension Of Arrangement Agreement With CNOOC Limited
Nexen Inc announced that CNOOC Limited and the Company have mutually agreed to extend the Outside Date of the Arrangement Agreement by 30 days to March 2, 2013. The Outside Date was originally January 31, 2013. Either party may, except in certain circumstances, extend the Outside Date from time to time if the required regulatory approvals have not been obtained, provided that in aggregate such extensions shall not exceed 75 business days from January 31, 2013. Completion of the Agreement remains subject to the receipt of United States regulatory approval and the satisfaction or waiver of other customary closing conditions. Key regulatory approvals have been received from Canada, the United Kingdom, the European Union and the People's Republic of China. Full Article
China NDRC Approved CNOOC Ltd Buyout Of Canada's Nexen In December-DJ
Dow Jones reported that China's National Development and Reform Commission approved CNOOC Ltd's acquisition of Canadian oil-and-gas company Nexen Inc in December. The NDRC cited the National Energy Administration in the statement published on its website, but didn't provide any additional information. Full Article
CNOOC Ltd Sees Nexen Deal Close In First Quarter At Earliest-Reuters
Reuters reported that CNOOC Ltd said it expects its $15.1 billion takeover of Canadian oil and gas producer Nexen Inc to close in the first quarter of 2013 at the earliest, a move that could be aimed at giving U.S. regulators more time to approve a sensitive aspect of the deal. Full Article
Nexen Inc Profit Falls, Still Expects CNOOC Ltd Deal By Year-End-Reuters
Reuters reported that Nexen Inc said it still expects a $15.1 billion takeover bid by China's CNOOC Ltd to close in the current quarter. Nexen, which reported a 71% fall in third-quarter profit, struck a takeover deal with CNOOC in July but the politically sensitive deal remains in limbo as the Canadian government determines whether it is of 'net benefit'. Full Article
CNOOC Ltd Raises FY 2012 Production Guidance-Conference Call
CNOOC Ltd announced that fiscal production is expected to reach 335 million to 345 million boe, surpassing its target of 330 million to 340 million boe set in the year beginning. Full Article
China's CNOOC to pay more for BP Indonesia gas
JAKARTA, May 10 - China National Offshore Company (CNOOC Ltd) , China's largest offshore oil and gas producer, will increase the price it pays for gas from BP's Tannguh project in Indonesia, the head of Indonesia's energy regulator said on Friday.
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