Sen. Demands Security Review Of CNOOC's $15B Nexen Buy

Law360, New York (July 27, 2012, 3:27 PM EDT) -- China National Offshore Oil Corp.'s $15.1 billion purchase of Canadian oil producer Nexen Inc. would leave the Chinese state-owned energy giant with drilling operations in the Gulf of Mexico, Sen. Charles Schumer, D-N.Y., said Friday, demanding a national security review of the deal and accusing China of unfair trade practices.

Schumer said in a letter to Treasury Secretary Timothy Geithner that Geithner — who also serves as chairman of the Committee on Foreign Investment in the United States — has the power to scrutinize the national...
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