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China Is Going on a |
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Earlier this summer, the China National Offshore Oil Corporation, known as CNOOC, made a cash offer of $18.5 billion to buy Unocal. It was a friendly offer, and since 70 percent of Unocal¡¯s reserves are near Asian markets where CNOOC operates, it seemed to make sense to the company, which is owned by the Chinese government. |
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