A visitor looks at China National Offshore Oil Corporation's oil refinery in Huizhou in southern Guangdong province. The state-linked oil explorer faces possible new US sanctions. Photo: Reuters
Chinese state oil giant CNOOC slumps as new US sanctions seen crippling its international operations, analyst warns
- CNOOC slumped 14 per cent for its worst one-day slump since March 9 after Reuters reported about new US sanctions on Chinese firms
- Potential sanctions may deny CNOOC access to US dollar funding or dealing with global oil majors, Sanford C. Bernstein’s Beveridge says
Topic |
US-China relations
A visitor looks at China National Offshore Oil Corporation's oil refinery in Huizhou in southern Guangdong province. The state-linked oil explorer faces possible new US sanctions. Photo: Reuters