JavaScript is off. Please enable to view full site.

NYSE begins move to delist Chinese state oil producer CNOOC

Saturday, February 27, 2021, 16:19 GMT+7
NYSE begins move to delist Chinese state oil producer CNOOC
Logos of China National Offshore Oil Corporation (CNOOC) are displayed at a news conference on the company's interim results in Hong Kong, China, March 23, 2017. Photo: Reuters

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 the list that prohibits U.S. investments, according to a guidance issued by the Treasury Department on January 27.

However, the exchange did not disclose a target date for the completion of the delisting.

The Trump administration had last year moved against certain Chinese companies that Washington said were owned or controlled by the Chinese military in an effort to ramp up pressure on Beijing.

The NYSE said CNOOC has the right to appeal the delisting decision.

The exchange will include any appeal it receives in its application to the U.S. Securities and Exchange Commission, which will be submitted on completion of all procedures.

CNOOC could not be immediately reached for comment.

Reuters

More

Read more

France outlaws sex with children aged under 15

The French parliament on Thursday adopted legislation that characterises sex with a child under the age of 15 as rape and punishable by up to 20 years in jail, bringing its penal code closer in line with many other Western nations

18 hours ago
;

Photos

VIDEOS

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Latest news