New CEO takes charge at CNOOC

Business | Reuters and Stella Zhai 20 Nov 2019

CNOOC (0883) has appointed Xu Keqiang as chief executive, after naming Wong Dongjin as chairman on Monday.

Xu joined China National Petroleum in 1996 and has been working as executive director and president since 2017.

Shares of CNOOC edged down 0.33 percent to HK$12.02.

Meanwhile, US oil prices fell for the second straight day yesterday amid market jitters over limited progress between China and the US on rolling back trade tariffs, while rising US inventories also jangled nerves.

West Texas Intermediate crude fell 58 cents or 1.05 percent to US$56.47 (HK$440.47) a barrel at one point, slipping further away from the eight-week high last Friday when hopes for the trade deal rose. Global benchmark Brent crude also fell 52 cents and touched US$61.92 a barrel.

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