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CNOOC Eyes Australian Firm Takeover»

Fu met with Australian representatives just after CNOOC gave up the takeover bid for Unocal...

Chinese oil offshore company CNOOC president Fu Yucheng said it won't take stakes of Australia's Woodside Petroleum.
Yucheng said he had no plan to merge with Woodside Petroleum, Australia's largest oil and gas exploration and production company.

The companies had a meeting in Beijing last week.

Alan John Carpenter, State Development Minister for Western Australia State, Fu met with Australian representatives just after CNOOC gave up the takeover bid for Unocal, and market speculated that CNOOC has turned its acquisition target to Australia.

"The market speculation is groundless," said Carpenter when he described their meeting in Beijing.