China’s oil champion CNOOC prepares retreat from Canada, U.S., U.K. over sanctions fear | Globalnews.ca

As it seeks to leave the West, CNOOC is looking to acquire new assets in Latin America and Africa, and also wants to prioritise the development of large, new prospects in Brazil, Guyana and Uganda, the sources said.CNOOC is seeking to sell “marginal and hard to manage” assets in Britain, Canada and the United States, a senior industry source told Reuters.

“Assets like Gulf of Mexico deepwater are technologically challenging and CNOOC really needed to work with partners to learn, but company executives were not even allowed to visit the U.S. offices. It had been a pain all along these years and the Trump administration’s blacklisting of CNOOC made it worse,” said the source.

Alberta NDP energy critic Kathleen Ganley said the province’s energy sector has been beset with years of challenges due to previously-low oil prices and the COVID-19 pandemic.

Source: News Formal (newsformal.com)

The first signs of the China take over of Taiwan.

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