China's oil champion prepares Western retreat over sanctions fear
CNOOC preparing to exit Britain, Canada, U.S. -sources
Companies periodically carry out reviews of their portfolios, but the exit being prepared would take place less than a decade after state-owned CNOOC entered the three countries via a $15 billion acquisition of Canada's Nexen, a deal that transformed the Chinese champion into a leading global producer.
The assets, which include stakes in major fields in the North Sea, the Gulf of Mexico and large Canadian oil sand projects, produce around 220,000 barrels of oil equivalent per day (boed), Reuters calculations found.