Cnooc to pay $2.1 billion for Canada oil sands firm

OPTI Canada, a bankrupt oil sands producer, has agreed to sell itself to a wholly-owned subsidiary of the China National Offshore Oil Corporation, in a deal worth $2.1 billion, the company said on Wednesday.

Cnooc, as the Chinese oil giant is known, has been an active deal maker as it seeks to feed China’s ravenous demand for energy.