UPDATE 3-Important issues remain on CNOOC bid for Nexen -source

Tue Nov 20, 2012 3:36pm EST
 
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* Source says issues on commercial side still not settled

* No suggestion that talks are at an impasse

* Alberta premier supportive but wants CNOOC commitments

* U.S. Steel deal is a precedent for job/investment commitments

* Nexen shares fall

By Randall Palmer

OTTAWA, Nov 20 (Reuters) - China's CNOOC is still discussing Canadian demands on jobs and investment as it negotiates terms for its $15 billion bid for oil and gas producer Nexen Inc, a source familiar with the negotiations said on Tuesday.

Differences center on commercial aspects of the deal, particularly commitments that the Chinese state-owned energy company will make on employment and capital expenditure, said the source, who declined to be identified due to the sensitivity of the issue.

"There do remain important issues outstanding," the source said, adding that talks were continuing and there was no sign of an impasse.   Continued...