CNOOC to stick to market procedures in Nexen deal

Updated: 2012-07-27 18:07


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BEIJING -- China National Offshore Oil Corp said Friday its bid to buy Canada's Nexen Inc is normal market behavior and the company will strictly follow market procedures in the acquiring process.

Lv Bo, deputy general manager of CNOOC, said the company is confident of completing the deal, which is still subject to government approvals.

The CNOOC announced Monday it has entered into an agreement to buy Canada's Nexen Inc for $15.1 billion in cash.