China's CNOOC May Divest Some US GoM Assets

China's CNOOC Ltd. (NYSE: CEO) is considering selling parts of its U.S. oil assets in the Gulf of Mexico (GoM), a company spokeswoman said Sept. 27 but added that it does not intend to fully exit the U.S. market. Reuters reported on Sept. 26 that Nexen Petroleum, a unit of state-controlled CNOOC, was planning to exit the U.S., divesting its stake in giant oil and gas developments in the GoM amid the trade row between Washington and Beijing. People familiar with the matter, speaking on condition of anonymity because it was private, told Reuters on Sept. 26 that Nexen had not determined whether to sell the assets outright or swap offshore acreage with another company.

https://www.shaledirectories.com/blog/china039s-cnooc-may-divest-some-us-gom-assets/