China Knowledge reported that CNOOC Ltd the largest offshore oil company in China fully owned unit CNOOC Luxembourg SA has completed the acquisition of oil sands producer OPTI Canada Inc for about USD 2.1 billion

The Hong Kong-listed company said in a statement that it would delist OPTI shares from the TSX Venture Exchange effective on December 1.

CNOOC said that the takeover will further expand China's presence in the oil sands industry in Canada and enable the Chinese company to get OPTI's 35% working interest in Long Lake and three other project areas located in the Athabasca region of northeastern Alberta.

(Sourced from China Knowledge)