Chinese energy giants shop abroad

Chinese energy giant CNOOC this week made a bid to buy the Canadian production firm Nexen for $15.1bn (£9.8bn). Nexen is the second largest oil producer in the UK, outputting 114,000 barrels of oil equivalent per day (boepd). In another deal, China’s Sinopec purchased a 49% share of Talisman’s oil-and-gas assets in the UK for […]

Nexen nets Golden approval for North Sea oil project

Nexen Petroleum UK, subsidiary of Canadian energy firm Nexen, has won approval for its Golden Eagle area development in the North Sea. The second largest oil producer in the UK got the go ahead from DECC for the £2billion project. The project is expected to produce around 140 million barrels of oil equivalent over its […]