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China's CNOOC steps up Western retreat with launch of US sale: Report
Chinese oil and gas major CNOOC has sounded out potential buyers of its interests in US oilfields, two sources said, stepping up its retreat from Western nations amid sanctions concerns and calls for domestic investment. Reuters reported in April that CNOOC was considering an exit from its operations in Britain, Canada and the United States, because of concerns in Beijing that those assets could become subject to Western sanctions, owing to China's refusal to condemn Russia's invasion of Ukraine. Beijing is also stepping up efforts to boost energy security, requiring CNOOC and others to raise domestic production and ... (full story)