CNOOC outlines reform plans with 2020 deadline
CNOOC has an overall aim of becoming a state-owned asset investment firm. (Interfax)
China National Offshore Oil Corp. (CNOOC) has become the first of the country’s three national oil companies to outline plans for restructuring, with the aim of becoming a state-owned asset investment firm by the end of the decade.
CNOOC Chairman Yang Hua chaired the 13th meeting of the company’s Leading Group for Deepening Reform, where draft opinions for reconstruction were passed.