China oil major CNOOC has 'no plan to exit' any region: executive

Company 'closely monitoring' developments with Western energy assets in Russia

CNOOC's Liuhua 16-2 oil field in the South China Sea. Chinese oil companies are reportedly in talks with Western peers seeking to exit Russia. (Photo courtesy of CNOOC)

KENJI KAWASE, Nikkei Asia chief business news correspondent

April 28, 2022 22:56 JST

HONG KONG -- Chinese state oil major CNOOC on Thursday shrugged off recent media reports that the company is considering withdrawing from oil field investments in the U.K., the U.S. and Canada to diminish its vulnerability to sanctions.

A global spotlight has hit China's state oil companies, searching for any potential sale or acquisition of overseas energy assets amid Western-led sanctions targeting Russia for its invasion of Ukraine.