I'm in the O&G industry and have been closely following the Chinese state oil companies with operations in Canada. CNOOC, Sinopec and PetroChina.
Sinopec and PetroChina have recently de-listed their stocks on the NYSE.
CNOOC voluntarily delisted from both the NYSE and TSX in December of 2021
A leaked source this past April claims that CNOOC is planning on divesting their North American and UK assets to avoid sanctions as US/China relations are increasingly strained.
All three companies are state owned and appear to be following the same path. Perhaps this is connecting dots that aren't there, but does a large internationally company choosing to delist from the exchange in the same country they operate in foreshadow upcoming asset sales?
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