Energy Security International oil groups mulling whether to bid for Unocal are having to balance their desire to acquire the $14bn energy group with a wish not to upset the Chinese government, bankers say.
China National Offshore Oil Corporation (Cnooc), one of the country's largest state-owned oil groups, has for months been exploring a takeover offer for California-based Unocal, inwhat would mark a landmarkoverseas expansion by a Chinese company.
