CNOOC Gives Nexen Oil Canadian Unit Freedom to Run Operations

Reuters reported that Chinese oil company, CNOOC Ltd, which took over Canada’s Nexen Inc, has given the Canadian unit’s CEO freedom to run operations.

As quoted in the market new:

This is a big deal. Nexen is a big organization. We’ll fully empower the management team here to get the operation right, to prioritize the strategy for the future,” Li Fanrong, chief executive of CNOOC, told reporters at Nexen’s Calgary head office.

Click here to read the full Reuters report.