April 2005
Investment Dealers' Digest;4/18/2005, Vol. 71 Issue 15, p24
Trade Publication
The article presents statistical information on global energy underwriting volume as of April 11, 2005. China's third-largest oil company, China National Offshore Oil Co., acquired 17% of MEG Energy, a Canadian oil-and-gas company, for U.S. $123 million. While CNOOC has been active in acquiring overseas oil and gas reserves, this deal marks the first time it has bought into a foreign oil company. Earlier this month, CNOOC failed to outbid ChevronTexaco Corp.'s $16.8 billion offer for Unocal Corp. Finland's Fortum raised by 18% the price range for shores that it is offering in its subsidiary Neste Oil, which is scheduled to begin trading next week on the Helsinki exchange.


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