ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Energy

Chinese state groups write off assets as future of oil dims

$1.1bn in impairment charges to crush profits of COSL and COSCO Shipping Energy

China Oilfield Services said the “accelerated transformation of the energy industry" had reduced the value of its oil rigs.   © AP
KENJI KAWASE, Nikkei Asia chief business news correspondent | China

HONG KONG -- Top Chinese state-owned conglomerates are having to reevaluate their oil-related operations as the country moves to implement President Xi Jinping's vision for achieving zero net carbon emissions by 2060.

Read Next

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more

By continuing to browse this website, you accept cookies which are used for several reasons such as personalizing content/ads and analyzing how this website is used. Please review our Cookie Policy to learn how you can update your cookie settings.

Accept & Continue Close