USD 63.9542

-0.06

EUR 71.1299

+0.23

BRENT 59.29

-0.01

AI-92 42.27

0

AI-95 46.03

0

AI-98 51.79

-0.04

Diesel 46.19

+0.03

27

China’s CNOOC To Take Over Canadian Talisman Energy

Chinese oil giant CNOOC is in talks with Canadian-based Talisman Energy over a possible takeover deal, a report in Hong Kong said Monday

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 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.