Pentagon blacklists Cnooc due to military links
Further escalation could lead to Chinese NOC becoming locked out of US-dollar-based financial system
Cnooc, China’s main offshore energy explorer, faces the risk of sanctions from the administration of outgoing US president Donald Trump after the Pentagon added the state-owned NOC to a blacklist of companies with alleged links to the Chinese military. The official blacklisting of Cnooc by the US Department of Defense in early December confirmed days of speculation that the company was in Washington’s crosshairs, and marked the first time one of China’s three NOCs has been directly embroiled in the geopolitical fight between the two superpowers. There is no sign for now that the other two companies, CNPC and Sinopec, will also be blacklisted. Shares in Cnooc’s listed unit in Hong Kong slumpe
Also in this section
1 April 2025
There is method to the US president’s apparent madness, and those seeking to understand need look no further than their local bookshop
1 April 2025
Strong economic growth targets are encouraging for the country’s energy demand growth, even if meeting those goals might be a tall order
28 March 2025
The Central Asian country is positioning itself as a low-carbon leader, but antiquated infrastructure and a dependence on Russia are holding it back
28 March 2025
MCEDD 2025 took place in Madrid this week with record attendance and a wide-ranging programme, reflecting the deepwater sector’s renewed momentum, strategic focus and accelerating technological innovation.
