Three giants compete in North America market.(Purchase)

China Chemical Reporter, August, 2005

Unocal's merger case attracts the attention of the global. Actually, three oil giants in China (CNOOC, CNPC and Sinopec) have focused their attention on the energy in North America. In the last two months, China's oil companies had cooperated with Canada for many times.

In April 2005, CNOOC (China National Offshore Oil Corp.) purchased 16.69% shares of Canadian MEG Energy Source Company. (CCR2005No.12) SinoCanada of Sinopec announced to subscribe around 150 million Canadian dollars to acquire 40% equity in Northern Lights partnership enterprise. (CCR2005No. 17) CNPC (China National Petroleum Corporation) had signed MOU with Enbridge, the second largest pipeline operator in Canada, to construct a 1 160 kilometers oil pipeline.

North America is the...

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