CNOOC May Challenge Bid for Unocal

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China’s biggest offshore oil producer, CNOOC Ltd., said on Tuesday it was still looking at buying Unocal Corp., putting it back in contention with Chevron’s $16.4 billion bid for the El Segundo-based producer.


CNOOC said in a statement to the Hong Kong Stock Exchange that it was “continuing to examine its options with respect to Unocal. These options include a possible offer by the company for Unocal, but no decision has been made in this respect.”


This is the first time CNOOC has made public its intention to buy Unocal since reports surfaced in January that it was considering a large overseas buy, possibly Unocal.


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