CNOOC poised to outbid Chevron for US oil major - Unocal

[dArKeR]

China National Offshore Oil Corp (CNOOC, ??????) is on the verge of making a counterbid in an attempt to beat ChevronTexaco Corp's US$16 billion takeover offer for US oil major Unocal, reports said yesterday.
Independent advisers hired by CNOOC will meet next week to give their evaluation of the company's proposal for a counterbid and are expected to approve it, the Financial Times reported, citing people close to the situation.

"The sense is that the independent advisers are beginning to draw their analysis to a close. It will be days rather than weeks before they wrap it up. It is likely to be neutral to positive on the deal," one person told the Financial Times.

http://www.taipeitimes.com/News/worldbiz/archives/2005/06/18/2003259796

[Roland99]

1. Why don't they all merge into one? There aren't many left anyway.

[DBoon]

2. What do you expect when the dollar is falling

and the Chinese hold all the debt?

Do you think we still own our country after Bush's miserable gamble with our future?

[dArKeR]

3. Ruppert said of the Chevron stepping in to stop the original CNOOC

offer was a must to stop China from getting their hands on much needed oil. I saw him say this in Eugene. But since that talk, this story, CNOOC is making a higher offer. If the world is in such short supply as Ruppert says, the American corporations/government will not allow China to buy Unocal at any price.
http://www.fromthewilderness.com/

[teryang]

4. Rumors of Chinese buyouts have been driving Canadian oils

...through the roof.

[dArKeR]

5. It's not a rumor

China Taps Into Canadian Reserves
http://www.khouse.org/enews_article/2005/918

Sinopec Buys into Canadian Oil Sands
http://test.china.org.cn/english/BAT/130646.htm

How to profit from China's oil hunt
http://moneycentral.msn.com/content/P105037.asp

[teryang]

6. It's a rumor only in relation to individual companies

...until an annoucement is made. The rumors are elevating the market prices of many canadian oil stocks. Many are called but few are chosen. Obviously, China is a player in the Canadian oil/oil sands market.

Thanks for the links by the way. Appreciate the info on MUR, DCRKF and UEYCF in the last article.