China's CNOOC plans share sale in April for Shanghai listing

China's CNOOC plans share sale in April for Shanghai listing

Shenzhen, China. Photo by Darmau Lee on Unsplash

CNOOC Ltd, China‘s top offshore oil and gas producer, plans to raise 35 billion yuan ($5.5 billion) via a public share sale in Shanghai next month to fund oil and gas excavation as Beijing prioritises energy security amid rising geopolitical risks.

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