Hong Kong Hang Seng Index fell 392 points on Aug. 10, Longfor July sales contracted 26 percent month-on-month, and the stock price collapsed by more than 16 percent. Cathay Pacific called for lifting entry quarantine restrictions as soon as possible. The Hang Seng Index opened 46 points lower on July 10, then the decline continued…
CNOOC Has Monster Shanghai Debut, Chinese Oil Giant To Leave US, UK Projects
China National Offshore Oil Corporation, or CNOOC, soared as much as 44 percent in its debut on the Shanghai Stock Exchange on Thursday. After hitting the daily upper limit, trading was suspended amid enormous fluctuation. The stock pared its gains to end the session up 28 percent. Investors jumped at the first opportunity to gain…
China’s Top Oil Gaint Plans to Exit Western Markets in Fear of Sanctions, Returning to Domestic IPOs
China is selling its oil fields in the United States, Canada, and Britain due to fear of Western sanctions, according to a recent Reuters report. Experts say Beijing’s over-reliance on U.S. markets and technologies could be fatal in the case of being sanctioned or losing its overseas assets. China’s top offshore oil and gas producer,…
China’s Top Oil Gaint Reportedly Plans to Exit Western Markets in Fear of Sanctions, Returning to Domestic IPOs
China is selling its oil fields in the United States, Canada, and Britain due to fear of Western sanctions, according to a recent Reuters report. Experts say Beijing’s over-reliance on U.S. markets and technologies could be fatal in the case of being sanctioned or losing its overseas assets. China’s top offshore oil and gas producer,…
Hunter Biden Tried to Broker Energy Deal With China’s State-Owned Oil Company: Emails
Hunter Biden, the second son of U.S. President Joe Biden, tried to broker a $120 million oil agreement in 2014 and 2015 between a Chinese state-owned oil company and Kazakhstan’s prime minister at that time, according to emails recently obtained by British newspaper the Daily Mail. The Chinese oil company alleged to be part of the…
NYSE Begins Move To Delist Chinese State Oil Producer CNOOC
The New York Stock Exchange on Friday decided to begin formal delisting of Chinese state oil giant CNOOC Ltd based on an update to an executive order signed by former U.S. President Donald Trump in November last year. Prohibitions on CNOOC will take effect on March 9, 60 days after the company was added to…
US Adds CNOOC to Blacklist, Saying It Helps China Intimidate Neighbors
WASHINGTON—The U.S. Commerce Department said Thursday it added Chinese National Overseas Oil Corporation (CNOOC) to a U.S. economic blacklist, saying it had helped China intimidate neighbors in the South China Sea. The Commerce Department also said Chinese company Skyrizon was being added to the Military End-User (MEU) List for “its capability to develop, produce, or…
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