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Keyword: bridasenergy

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  • Cnooc Acquires Argentina Oil Assets

    03/15/2010 4:39:34 PM PDT · by Pontiac · 11 replies · 396+ views
    WSJ On-Line ^ | MARCH 14, 2010 | YVONNE LEE and NISHA GOPALAN
    Chinese state-owned oil company Cnooc Ltd. said it will pay $3.1 billion for a 50% stake in a unit of Argentina's Bridas Energy Holdings Ltd. in a move to boost its production and reserves. The deal highlights China's growing thirst for energy resources globally. The Chinese government is encouraging state-owned energy companies to buy assets abroad to power the country's booming economy. The deal is structured as an oil and gas production joint venture. The Beijing-based oil company's unit, Cnooc International Ltd., and Bridas Energy Holdings will each hold a 50% stake in Bridas Corp., which has exploration and production...