China Oilfield Services, a unit of state-run China National Offshore Oil Corp., agreed to buy Norway’s Awilco Offshore ASA for about $2.49 billion. The purchase price is 19 percent higher than Awilco’s closing price Friday. The purchase will increase China Oilfield’s fleet of offshore rigs to 22, from 15, and give it access to Awilco’s expertise. Oil rig rental rates are at record levels. (Bloomberg)
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- Why Mitt Romney is perfectly poised for a comeback in 2016
- Why is the West so afraid of Islam?
- 8 secrets to steal from power networkers
- Here's the schedule very successful people follow every day
- The Nazi smart bomb that inspired China's most dangerous weapon
- Don't vote for Andrew Cuomo
- What would a U.S.-Russia war look like?
- How The Killing survived two cancellations and ended on its own terms
- The best places to find love — and lust — according to science
- Why GOP reformers are bound to fail
Subscribe to the Week