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CNOOC sees Nexen deal closed in Q1 at earliest
December 28, 2012 / 3:55 AM / in 5 years

CNOOC sees Nexen deal closed in Q1 at earliest

BEIJING, Dec 28 (Reuters) - China’s CNOOC Ltd expects its $15.1 billion takeover of Canadian oil and gas producer Nexen Inc to be closed in the first quarter of 2013 at earliest, an official with the firm’s investment relations said on Friday.

The company is still awaiting U.S. approval over its purchase of Nexen assets in the Gulf of Mexico, after Ottawa gave the greenlight for the deal earlier this month.

“The closing date of the deal is closely linked with the approval result. Now it looks like it is not practical to close by end of the year. So now we expect it to be closed at the earliest in the first quarter of next year,” said the CNOOC official

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