CNOOC gives Nexen chief free rein

Chinese oil company CNOOC, its takeover of Canada's Nexen complete, is giving the leader of the Canadian unit freedom to get operations running smoothly after an exhaustive seven-month acquisition process, CNOOC's chief said on Wednesday.

The deal, which boosts CNOOC's global oil and gas production by 20 per cent and reserves by 30 per cent, closed on Monday after clearing the final hurdle, sign-off by US regulators.

via Business feed http://www.scmp.com/business/commodities/article/1164242/cnooc-gives-nexen-chief-free-rein