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China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

Green Car Congress

CNOOC Limited—China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world—is acquiring all of the Common Shares of Canada-based energy company Nexen Inc. It is the second-largest oil producer in the UK North Sea.

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Fairbanks Morse Engine and Achates Power team up on opposed-piston engines

Green Car Congress

The benefits of two-stroke, opposed-piston designs are well-known: fewer moving parts, less maintenance and reduced operating costs. After more than 4,500 hours of dynamometer testing, the company has demonstrated brake thermal efficiency of 47.8% while meeting the most stringent, global vehicle emissions standards.

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