China CNOOC: No plan to buy oil firms during crisis

BOAO, April 19 (Reuters) – China’s offshore oil specialist
CNOOC has no plan to buy oil firms abroad during the global
financial crisis, and will look instead for foreign partners to
make joint investments, chairman Fu Chengyu said on Sunday.
Awash with capital and facing strong domestic demand for
fuel, Chinese energy firms have been encouraged by Beijing to
take advantage of the financial crisis to make overseas
acquisitions.

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