CNOOC Limited is China's largest producer of offshore crude oil and natural gas, noted as such in 2010.[1] It is a major subsidiary of China National Offshore Oil Corporation (CNOOC) and has been listed on the Hong Kong sehk: 883 since February 2001. It was listed on the New York Stock Exchange from 2001 to 2021. It was on the Toronto Stock Exchange between 2013 (following its acquisition of Nexen Inc) and 2021. It was admitted as a constituent stock of the Hang Seng Index in July 2001.[2]
History
China National Offshore Oil Corporation or CNOOC, is a state-owned enterprise based in Beijing, capital of China. In order to float most of its assets on the Hong Kong stock exchange, a special purpose vehicle was incorporated in Hong Kong as an intermediate holding company, in order to transfer the control of some subsidiaries to the company. Thus, it was considered as a red chip company of the exchange,[3]