JavaScript is off. Please enable to view full site.

NYSE begins move to delist Chinese state oil producer CNOOC

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

;

Photos

VIDEOS

‘Taste of Australia’ gala dinner held in Ho Chi Minh City after 2-year hiatus

Taste of Australia Gala Reception has returned to the Park Hyatt Hotel in Ho Chi Minh City's District 1 after a two-year hiatus due to the COVID-19 pandemic

Vietnamese woman gives unconditional love to hundreds of adopted children

Despite her own immense hardship, she has taken in and cared for hundreds of orphans over the past three decades.

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

Latest news