CNOOC donates record $1.5M to Calgary libraries
China National Offshore Oil Corporation bought Calgary-based Nexen in February in controversial takeover
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.