CNOOC presses for US regulatory review

CNOOC, the state-owned oil company bidding against Chevron to buy US company Unocal, asked the US panel in charge of investigating foreign acquisitions the Committee on Foreign Investment to begin a national-security review of its US$18.5 bn cash bid, the Wall Street Journal reported. The request was seen as a move to kick-start the review process before the August 10 Unocal shareholders vote on the bid�a deal where timing could be as important as finances.