Maura Reynolds: House Says No to China Oil Deal

From the Los Angeles Times (free registration required):

Voicing concern about national security and the U.S. economy, the House of Representatives passed two measures Thursday aimed at blocking the proposed takeover of El Segundo-based Unocal Corp. by a Chinese oil company.

In a strong bipartisan vote of 333 to 92, the House approved an amendment to a Treasury Department spending bill forbidding the administration from using federal funds to approve the bid by CNOOC Ltd., an arm of government-owned China National Offshore Oil Corp., to buy for $18.5 billion.

See also “Many Oil Experts Unconcerned Over China Unocal Bid” from the Washington Post and “CNOOC’s bid for Unocal essentially business” from Xinhua.

July 1, 2005 8:51 AM
Posted By:
Categories: China & the World
Tags: ,