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China's CNOOC in takeover talks with Canadian energy firm: report

by Staff Writers
 Hong Kong (AFP) May 26, 2008
 Chinese oil giant CNOOC is in talks with Canadian-based Talisman Energy over a possible takeover deal, a report in Hong Kong said Monday.

CNOOC, China's third largest oil company, is in discussions that could lead to asset sales or a complete takeover, the South China Morning Post said citing unnamed sources.

The report also said that energy giant PetroChina was looking at taking a stake in Santos, the third largest oil and gas company in Australia.

Oil firms have shied away from acquisitions in recent months, waiting for a correction in the record oil price.

But the apparently relentless rise of crude -- which traded at more than 132 US dollars a barrel on Monday -- has led to concern that companies should make a move before potential buys become too expensive, the report said.

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ENERGY TECH
Analysis: Azeri-Turkmen relations improve
 Washington (UPI) May 22, 2008
For the last 17 months Russia and China have been engaged in a three-way tussle with Western energy companies to develop Turkmenistan's vast natural gas resources. Since the death of Turkmen "President for Life" Saparmurat Niyazov, his successor, Gurbanguly Berdymukhamedov, has been adroitly talking to Moscow, Beijing and Washington about exploiting the country's reserves.






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