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China oil mulls $16.4bn Unocal bid

The China National Offshore Oil Corporation is reportedly considering a renewed attempt to buy Unocal, despite the US-based oil firm already agreeing a $16.4bn (€13bn) merger with rival Chevron Texaco.

Bloomberg reports that Cnooc, China's third largest oil firm, put out a statement to the Hong Kong Stock Exchange today saying it was examining options including "a possible offer by the company for Unocal".

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