A Cnooc (CEO) takeover of Nexen (NXY) would give it the largest stake in the Buzzard oil field...

|By:, SA News Editor

A Cnooc (CEO) takeover of Nexen (NXY) would give it the largest stake in the Buzzard oil field in the North Sea that "has increasingly influenced" global oil prices, according to a memo sent to Canada PM Stephen Harper. China's government also would own a 16% share of Syncrude, Canada’s biggest oil sands project in production, with Sinopec (SNP) owning 9% and CEO acquiring NXY’s 7%.