Energy Biz Insights: Exxon and Shell Want MORE Of Kazakhstan, Cnooc Deal RAGES On

Exxon Mobil Corporation (NYSE:XOM) and Royal Dutch Shell (RDS.A, RDS.B) are said to be searching for larger stakes in the Kashagan oil field and are requesting that the government of Kazakhstan extend the production-sharing arrangement for 20 years prior to investing more in the $46 billion project.

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The New Democratic Party of Canada is in opposition to how the government is dealing with Cnooc Limited ‘s (NYSE:CEO) $15 billion bid for Nexen Inc. (NYSE:NXY), which shows the matter’s political sensitivity. The Party is demanding open hearings and points out that two former aides to Prime Minister Stephen Harper have been lobbying in favor of Cnooc, although it does not necessarily oppose the acquisition.

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