hina 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
- Who are the real gay marriage bigots?
- Why is American internet so slow?
- What would a U.S.-Russia war look like?
- How to take the perfect profile picture for online dating, according to science
- Religious liberty should be a liberal value, too
- Don't worry: World War III will almost certainly never happen
- What the collapse of the Ming Dynasty can tell us about American decline
- Watch The Daily Show mock Fox News' confused man-crush on Vladimir Putin
- The Daily Show's Aasif Mandvi dismantles another ObamaCare myth
- The one simple thing that can make you much more impressive
Subscribe to the Week