S&P Dow Jones Indices LLC said late on Jan. 13 it will remove oil giant China National Offshore Oil Corp.'s (CNOOC) securities due to U.S. sanctions.
"The securities (CNOOC Ltd. ADR and CNOOC Ltd. H Shares) will be removed from impacted indices on or before February 1, 2021," S&P Dow Jones Indices said in a statement.
In early December, the Trump administration added CNOOC to a blacklist of alleged Chinese military companies, drawing condemnation from Beijing as President-elect Joe Biden prepares to take office.
The Department of Defense designated a total of four additional companies on Dec. 3 as owned or controlled by the Chinese military, including China's top chipmaker SMIC, China Construction Technology Co. Ltd. and China International Engineering Consulting Corp.
CNOOC said in December it was "shocked and regretful" at being added to the list. The move was based on "false and inaccurate information," it said in a statement on its website.
In an exchange filing, the state-owned company's listed arm, CNOOC Ltd., said it was assessing the impact of the situation on the group and would closely monitor developments.
Daniel Rice, former CEO of Rice Energy who now sits on the EQT board, addressed the elephant in the room earlier this month at Hart Energy’s Energy Capital Conference.
Hart Energy and Oil and Gas Investor will recognize the accomplishments of 25 Influential Women in Energy alongside this year’s Pinnacle Award recipient Dr. Sharon L. Wood, dean of the Cockrell School of Engineering at The University of Texas at Austin.
Half of the job cuts were at Chesapeake Energy's Oklahoma City headquarters and half were in the oil field, according to the Oklahoma Office of Workforce Development.