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CNOOC donates record $1.5M to Calgary libraries

CNOOC, the Chinese company which recently bought Nexen, donated $1.5 million to the Calgary Library Foundation today.

China National Offshore Oil Corporation bought Calgary-based Nexen in February in controversial takeover

Energy giant China National Offshore Oil Corp. bought Nexen in a $15-billion friendly takeover. (Claro Cortes/Reuters)

CNOOC, the Chinese energy company which bought Nexen, donated $1.5 million to the Calgary Library Foundation today.

The gift from the China National Offshore Oil Corporation is the largest single donation in the library's history.

The February takeover of Calgary-based Nexen to CNOOC raised concerns about the company having such a large stake in Canada's oilpatch.

CEO of the Chinese state-owned company Li Fanrong said Friday the company wants to do what is right for the local communities.

"The company's not only [focused on] profit but also, most importantly, for sustainable development of the company. [We] should focus where we operate, the community where we can contribute to."

The donation will support a new automated materials-handling system and other technology for the new central library being planned in the East Village.