A New Diet for China's Energy Appetite

The Canadian government's final approval of the CNOOC (CEO)-Nexen (NXY) deal is important in that it may be the last time Chinese energy companies are in the limelight for a major energy buy. The long approval process of this $15.1 billion deal may have convinced the Chinese that they're better off staying under the radar to satisfy their insatiable appetite for resource assets -- an appetite that will continue in 2013.

The approval of this enormous energy deal is probably best thought of as the right bookend to CNOOC's failed 2005 effort to buy now-defunct U.S. producer oil Unocal. With Nexen, the Chinese oil conglomerate gets a mix of assets, including interest in various traditional Canadian and non-traditional oil sands assets, as well as interests in the Gulf of Mexico in the U.S. and the North Sea in the U.K....278 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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