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A drilling platform developed by CNOOC Ltd, China's largest offshore oil producer. The Canadian government earlier approved the Chinese company's acquiring Canadian energy counterpart Nexen Inc. The volume of China's outbound M&As in the oil and gas industry reached $34.5 billion with 35 deals by Dec 13, 2012. Hu Qingming / For China Daily
Global economic woes have boosted outbound mergers and acquisitions by Chinese companies to a new high in 2012, reports Du Juan.