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Underscoring Cnooc's (CEO) deal for Nexen (NXY) is the fact that China's economy remains...

Underscoring Cnooc's (CEO) deal for Nexen (NXY) is the fact that China's economy remains intensely energy hungry. China imported 5.6M bbl/day of oil in H1 2012, up 11% Y/Y despite its slowing economy, and its oil need could surpass 12M bbl/day by 2035. By contrast, the U.S. is likely to buy less foreign oil over time, thanks to rising domestic shale and ethanol production.
Comments (1)
  • BIG Nexen option trades before deal RAISE EYEBROWS! http://goo.gl/ijqUh
    23 Jul 2012, 05:36 PM Reply Like
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