China buys up 8% of UK’s North Sea oil and gas production.

July 24, 2012 Gas, Oil 

Chinese state-controlled group CNOOC agrees a $15.1bn (£9.7bn) offer to buy Canada’s Nexen, the second biggest oil producer in the UK North Sea, while China’s Sinopec pays $1.5bn for a 49pc stake in the UK unit of Canada’s Talisman Energy.

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