CNOOC asks for US security review of Nexen takeover

Security: CNOOC asks the US government to review its takeover bid for Canada's Nexen for any national security concerns

REUTERS

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News Wires

 06 September 2012 01:54 GMT

China's state-owned oil company CNOOC has formally asked the US government to review its $15.1 billion takeover bid for Canada's Nexen for any national security concerns, Reuters reported a CNOOC spokesman saying on Wednesday.

About 10% of the Canadian oil producer's assets are in the US. The CNOOC spokesman reiterated that the deal would not threaten US security.

Reuters said CNOOC had declined to comment on the precise date when the company filed its paperwork with the Committee on Foreign Investment in the United States (CFIUS).

The confidential panel, which is chaired by Treasury Secretary Timothy Geithner and includes the secretaries of state and defence, has up to 75 days to decide whether to impose any conditions on the deal from the day the paperwork was filed.

The…

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