The China National Offshore Oil Company Ltd has no plan to increase its bid for US-based Unocal, a company spokesman said in Beijing yesterday.
Foreign media reports said  CNOOC is considering sweetening its bid for Unocal and pledging to sell Unocal's American assets - including valuable drilling projects in the Gulf of Mexico - to reduce opposition to the bid by US lawmakers.
"CNOOC's US$67 per share all cash offer has not changed and remains in effect," the spokesman said. "We will not easily change the bid.
"There have been many rumors on whether CNOOC will sweeten its bid for Unocal. As for those rumors, CNOOC will not comment," he added.
Unocal's board said late on Tuesday it has accepted a revised offer from Chevron worth more than US$17 billion in cash and stock, less than CNOOC's all-cash bid of US$18.5 billion.
Unocal and Chevron jointly urged Unocal shareholders to accept the package at a vote scheduled for August 10.