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BEIJING (Reuters) – China’s CNOOC (NYSE:CEO) Ltd has bought its U.S. subsidiary, along with its upstream oil and gasoline property within the Gulf of Mexico, to British chemical compounds group INEOS, in accordance with a CNOOC assertion issued on Saturday.
The Chinese language oil and gasoline main stated CNOOC Power Holdings U.S.A. entered right into a gross sales settlement with a subsidiary of INEOS regarding CNOOC’s upstream oil and gasoline property within the U.S. a part of the Gulf of Mexico.
The deal primarily contains non-operator pursuits in oil and gasoline tasks such because the Appomattox and Stampede fields.
The agency goals to optimise its international asset portfolio and can work with INEOS in the direction of a clean transition, stated chairman of CNOOC Worldwide, Liu Yongjie, within the assertion.
CNOOC has been sounding out potential consumers of its pursuits in U.S. oil and gasoline fields since 2022.
Reuters had reported earlier CNOOC was contemplating an exit from operations in Britain, Canada and the US, on considerations these property may turn out to be topic to Western sanctions as a result of China had not condemned Russia’s invasion of Ukraine.
