1、1 Unocal Corporation http:/.2 Reportedly, the Chinese government owns 70% of Cnooc. See, for example, The Wall StreetJournal, “Oil Battle Sets Showdown over China,” June 24, 2005, p. A1.Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Cod
2、e RS22182Updated July 26, 2005Unocal Corporations Oil and GasBernard A. GelbSpecialist in Industry EconomicsResources, Science, and Industry DivisionSummaryU.S.-based Unocal Corporation is primarily an oil and gas exploration andproduction company with operations in North America and overseas. China
3、 NationalOffshore Oil Corporation (Cnooc), which is largely owned by the government of China,has submitted a bid to acquire Unocal. Some Members of Congress and others areconcerned that acquisition of Unocal by Cnooc poses a threat to the adequacy anddependability of U.S. energy supplies, and to nat
4、ional security as well. Data from theUnocal Corporation indicate that the bulk of Unocals oil and gas production andreserves are located overseas. This report will not be updated.U.S.-based Unocal Corporation primarily is engaged in the exploration andproduction of crude oil and natural gas and proj
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