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