CNOOC's U.S. delisting had 'profound impact' on share price: CEO

Planned Shanghai listing intended to repair damage and find new funding

A CNOOC booth at a Beijing trade fair: U.S. sanctions have had no major impact on the company's production and operation, according to CEO Xu Keqiang. © Reuters

KENJI KAWASE, Nikkei Asia chief business news correspondent

January 12, 2022 00:17 JST

HONG KONG -- The expulsion of CNOOC, a unit of a Chinese state-owned oil major, from the U.S. stock market had a "profound impact" on the company's share price, CEO Xu Keqiang said on Tuesday.

The company's endeavor to go public in Shanghai under a "homecoming" listing is intended to help CNOOC recover from the damage and seek a fresh funding channel, Xu said.