CNOOC Falls as China-Japan Undersea Oil & Gas Dispute
According to a Sept. 20 report from Bloomberg, Cnooc Ltd., China’s biggest offshore energy producer, fell in Hong Kong trading as a growing territorial dispute between China and Japan in the East China Sea threatens to disrupt oil and gas development in the area. The shares dropped 0.4%, compared with the less than 0.1% gain in the benchmark Hang Seng index. China Oilfield Services Ltd., which counts CNOOC as its largest customer, declined 0.7%.
(Source: Bloomberg)