CNOOC Ltd. said that Xu Keqiang, an existing executive director and president of the company, has been appointed as the CEO of the company, effective November 19, 2019.
The Board offered Xu its sincere congratulations on his appointment as the CEO of the company.
Xu joined China National Petroleum Corp. in 1996 and served different positions. He also held varios postions at National Petroleum Corp., CNPC International (Kazakhstan) Ltd. and Sinopetro Investment Co. Ltd. In May 2017, Xu was appointed as a director of CNOOC China Ltd., a subsidiary of the Company. Xu was appointed as the general manager of CNOOC China Ltd. with effect from May 21, 2018. Xu was appointed as an executive director and the president of the company with effect from April 18, 2017.
The ruling by Justice Barry Ostrager in Manhattan Supreme Court followed a trial featuring testimony from investors, experts and former Exxon Mobil CEO Rex Tillerson.
The second-largest U.S. oil company also said it will reduce funding to the various gas-related opportunities.
The move comes shortly after former COO Olivier Le Peuch took over the top job in July, following years of declines in Schlumberger's share price and a hit from cuts in spending by producers.