Details

Abstract / Summary

The all-cash $18.5 billion bid from China National Offshore Oil Company (CNOOC) to acquire Unocal Oil Company of the US was severely resisted by both US Congress and Chevron Corporation. It was yet another example of the United States (US) state influence on corporate planning and growing protectionist obstacles to China's globalisation. The entire effort on the part of the government and the US oil major forced CNOOC to abandon its bid and cleared the way for Chevron, which had quoted a much lower price of $17.7 billion. The entire episode sparked heated controversy around the globe. Those who opposed the bid viewed it as a Chinese bid to control vital energy resources, while others fretted about possible retribution against the US companies operating in China and a weakening of the US efforts to push for freer markets around the globe.

Field of Interest

Business & Economics

Author

A. Ghosh, fl. 2010, S. Chaudhuri, fl. 2010

Copyright Message

Copyright © 2010 by IBS Center for Management Research

Content Type

Case study

Duration

0 sec

Format

Text

Original Publication Date

2010

Page Count

8

Publication Year

2010

Publisher

IBS Center for Management Research

Place Published / Released

Hyderabad, Andhra Pradesh

Subject

Business & Economics, Social Sciences, Strategic Management, International Business, Energy resources, Petroleum industry, International trade, Petroleum and Coal Products Manufacturing, Gerenciamento Estratégico, Manejo Estratégico, Negócios Internacionais, Negocios Internacionales, United States of America, USA, US of A, America, Estados Unidos, Chevron, China National Offshore Oil Company, United States, China, Business-Government Trade Relationships

Keywords and Translated Subjects

Gerenciamento Estratégico, Manejo Estratégico, Negócios Internacionais, Negocios Internacionales, United States of America, USA, US of A, America, Estados Unidos