CNOOC Investment: About how long until this is approved?

I thought this was a done deal, didn't realize it's subject to negotiation(s).

 

http://blogs.forbes.com/energysource/2010/10/17/put-china-to-a-choi...

 

"Thanks in part to these shale deposits, the U.S. natural gas industry is experiencing a boom, and foreign companies including CNOOC and India’s Reliance Industries are moving aggressively to capture a piece of the action. Reliance has also spent billions acquiring stakes in U.S. natural gas projects, though it reportedly lost the Chesapeake deal to CNOOC.

 

In order to ensure that the CNOOC deal is not a threat to U.S. national security, it requires review and approval by the Committee on Foreign Investment in the United States (CFIUS). In 2005, Cnooc withdrew a multibillion dollar bid for Unocal Corp. as a result of national security concerns in Washington."

 

80)

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Replies to This Discussion

Permalink Reply by Les Bamburg on December 13, 2010 at 4:14

Sesport, it is likely just a formality since several other foreign entities have already made similar investments.  The Unocal situation was completely different and a lot has changed since 2005.

Permalink Reply by sesport on December 13, 2010 at 19:28

Thanks, Les.  Just wondering about the timeline on this kind of thing.  Also wondering if the ideas expressed about conditions to be met would play a role in when this could wrap up.

 

80)

Permalink Reply by sesport on December 13, 2010 at 19:26

Think recent hullaballoo over muscle-flexing might be the workout of a work-around?  80)

Permalink Reply by essay on December 13, 2010 at 10:15

even exxon's buying of xto had to jump through antitrust hoops.  this is nothing unusual.  interestingly enough the unocal deal involved quite a bit more than just gas or oil.

 

heaven forbid the thug regime in iran be encouraged by our government, eh?

 

Permalink Reply by sesport on December 13, 2010 at 19:23

What???

Permalink Reply by essay on December 14, 2010 at 6:51

which part do you not understand

Permalink Reply by benny688 on December 15, 2010 at 16:41

Aubrey said they would move in two new rigs under this deal before the end of this year and then add twenty more in 2011, so I think it has already been approved and passed any hurdles.

 

GLTA

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