Expiration date for CNOOC acquisition of Nexen postponed

China National Offshore Oil Corporation (CNOOC) declared Monday it has reached an agreement with Canadian energy company Nexen Inc., according to which the expiration date of the Nexen Inc. acquisition will be postponed to March 2 from Jan. 21, 2013.

In July 2012, the CNOOC announced its bid for Canadian oil and gas company Nexen Inc at 15 billion U.S. dollars. According to the announcement CNOOC made in July, if the transaction haven’t been approved by relevant supervision authority, either party has the rights to postpone the expiration date within 75 working days from Jan. 31, 2013…

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