The CNOOC move to buy OPTI Canada highlights several big moves in energy overall for Chinese firms in the last few weeks/months:
The current item of CNOOC buying OptiC, then Sinopec teaming with ExxonMobil to develop their shale gas, then CNPC just did a deal with ADNOC to double the crude volume (100,000 bpd up to 200,000) for Singapore & China assets. And CNPC withdrawl from Canada OS – Enbridge Gateway P/L and switch to Venezuela investments. (Course CNPC is still testing various CA OS blends along with heavy Saudi/MEast crudes for thier refineries.)
Regards
