Read More: Oil Prices, Carbon Emissions, Economic Growth, Oil, China-National-Offshore-Co, Petroleum, Nexen, Business News
Why do you think Calgary-based Nexen Inc. is so eager to sell to China National Offshore Oil Corp.? While state-owned CNOOC thinks it is buying a strategic reserve, what it is really buying are huge cost overruns and production delays.
According to Mark Saunders, president of Achelous Partners, LLC, a conspicuous Chinese entry into Corporate America is on the way. China is hungry to snare U.S. companies as a way to get access to the American market.