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
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
Business /  Markets

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

Martin ChoiEric Ng
Martin Choi and Eric Ng

Updated: 10:55pm, 30 Nov, 2020

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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
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
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