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CNOOC's (CEO) acquisition of Nexen (NXY) overcomes another hurdle after an official at the...

CNOOC's (CEO) acquisition of Nexen (NXY) overcomes another hurdle after an official at the U.K.'s energy ministry says Britain "will not stand in the way" of the deal. Nexen owns a 43% holding in the in the North Sea Buzzard oilfield, which is used to help set the benchmark Brent crude price. Of greater import, perhaps, is what the U.S. will say.
Comments (1)
  • Uncle Pie
    , contributor
    Comments (2675) | Send Message
     
    The Buzzard oilfield in the north sea was discovered by a Canadian company, Encana, which subsequently sold its interest to Nexen, another Canadian company. At the time, it was the largest oil discovery in the British sector of the North Sea in 25 years. Why is it called "Buzzard"? It's named after a bar in Calgary, Alberta, popular with the oil crowd.
    11 Dec 2012, 08:24 AM Reply Like
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