Wednesday, December 11, 2024
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CNOOC And Chevron Battle For Unocal

The Chinese National Offshore Oil Company (CNOOC) and Chevron battle for the Unocal oil company. Chevron thought they had a done deal back in April when they made an offer of $61.24 a share or roughly $16.1 billion in cash and stocks. This week CNOOC made a solid offer of $18.5 billion in cool cash but if Unocal does decide to entertain CNOOC's offer, whoa boy there's gonna be a lot of hoops to jump through.

Bidding War In Asia: CNOOC Vs. Chevron For Unocal

The Chinese National Offshore Oil Company (CNOOC) put in an unsolicited $18.5 billion bid for Unocal, challenging Chevron's April move to acquire the oil company. Neither is a done deal and this marks China's continued assertion into corporate hardball.

Chevron Nigeria and NNPC Award KBR Snamprogetti JGC Joint Venture EPC Contract

The joint venture team of KBR, the engineering and construction subsidiary of Halliburton...