July 23, 2005 |
Three leaders in the congressional campaign to discourage Chinese oil company CNOOC Ltd.'s acquisition of Unocal Corp. accepted campaign contributions from rival suitor Chevron Corp. in recent weeks, according to reports filed with the Federal Election Commission. Rep. Richard W. Pombo (R-Tracy), Sen. Kent Conrad (D-N.D.) and Sen. James M. Inhofe (R-Okla.) have been among the most vocal on Capitol Hill in criticizing CNOOC's proposed deal as anti-competitive and a threat to national security.
June 21, 2005 |
Two California congressmen have urged the Bush administration to thoroughly review any bid by China's CNOOC Ltd. to acquire Unocal Corp., a letter made available Monday said. CNOOC, China's third-largest oil group, has said it is considering a counteroffer to try to trump Chevron Corp.'s $16-billion bid for El Segundo-based Unocal.
July 27, 2005 |
CNOOC Ltd.'s $18.5-billion takeover bid for Unocal Corp. has been dealt a setback by a congressional vote delaying the approval of any deal, but the Chinese oil company is far from out of the race to scoop up the U.S. oil and gas producer, market observers say. Late Monday, a U.S. Senate-House conference committee finalizing a broad energy bill voted to approve a delay of as many as 141 days in a Bush administration review of CNOOC's bid for Unocal.
July 7, 2005 |
Four state attorneys general told Unocal Corp. on Wednesday that they were "deeply concerned" that a proposed deal between the oil company and China's CNOOC Ltd. could endanger environmental cleanup projects. California Atty. Gen. Bill Lockyer, along with the top law enforcement officers of Montana, New Mexico and Texas, sent a letter to Unocal President Joseph H. Bryant seeking assurances that Unocal would continue to pay for cleanup at Unocal waste sites in their states.
July 2, 2005 |
China's CNOOC Ltd. moved Friday to jump-start a U.S. government review of its $18.5-billion bid for Unocal Corp., while the chairman of the House Energy and Commerce Committee pledged to intensify the scrutiny with a hearing this month. CNOOC, which is 70%-owned by state-controlled China National Offshore Oil Corp., said it filed detailed paperwork with a foreign investment review committee headed by Treasury Secretary John W. Snow.
July 15, 2005 |
Directors of Unocal Corp. discussed an unsolicited $18.5-billion buyout offer from China's CNOOC Ltd. but adjourned Thursday without publicly indicating their leanings on the matter, feeding speculation of a looming bidding war for the El Segundo oil company. Unocal, which agreed in early April to be acquired by Chevron Corp. of San Ramon, Calif., has recommended that shareholders approve that deal at a special meeting Aug. 10.