PetroChina & Sinopec Oil Companies De-Listing from NYSE, following CNOOC. Is this foreshadowing of asset sales?


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?

Sources:

https://oilprice.com/Latest-Energy-News/World-News/Chinese-Oil-Giants-Sinopec-And-PetroChina-To-Delist-From-NYSE.html

https://www.globaltimes.cn/page/202204/1259810.shtml#:~:text=CNOOC%20denies%20selling%20off%20overseas%20assets%2C%20business%20operating%20normally%20%2D%20Global%20Times&text=China%20National%20Offshore%20Oil%20Corp,North%20America%20are%20operating%20normally.


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