CNOOC donates record $1.5M to Calgary libraries

CNOOC, the Chinese energy company whichbought 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.