The United States is calculated China urgently gets rid of oil and gas assets in the United States Great Britain and Canada
- Apr 20
The tension between China and the United States has long and increases lately. Beijing fears possible sanctions to its mining companies. For this reason, the Chinese oil and gas giant CNOOC is going to leave the US, Great Britain and Canada. What changes will affect the participating countries and what will happen next?
The main reason was the problems in trade, as well as non-equilibrium Western countries regarding the violation of human rights in the PRC.
At the end of April, a public listing on the Shanghai Stock Exchange is scheduled. The revision of the company's portfolio is aimed at attracting financing after the exclusion of its shares from the US list in October last year. The introduction to the black list proceeded from the administration of the former US president Donald Trump in 2020.
Due to the blocking of Russian assets in the West, China is not fairly afraid that he can wait for the same fate. The third largest Chinese Offshore Oil Company CNOOC sold its assets in the USA, Great Britain and Canada for $ 3 billion.
China left even deposits in the North Sea, which could bring billions against the background of the desire of Western countries to abandon Russian energy carriers. There is information that care is final and irrevocable. This suggests that Cnooc has invested money to other countries.
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Perhaps the care of China from capital of the United States and Europe will not be the last decision. The current geopolitical situation dictates its own rules. It is possible that it will lead to the strengthening of contradictions and global competition. Not only in the economic sphere, but also in the extractive industry.
According to estimates, assets in the North Sea, Mexico Bay and large projects for the development of oil sands in Canada produce about 220 thousand barrels of oil equivalent per day. What happens after the care of China and how many giant companies will fight for a place under the sun, while it is unknown.
We dare to assume that all the same, the position of Russia justifies itself. Almost $ 300 billion reserves of the Central Bank will lead to mass distrust of the financial institutions of Western countries. As they imposed restrictions on the inflow of capital from other countries.
What do you think China perceives the West of a common threat that will wank him with Russia? Is China really began to get rid of assets in Europe and America, fearing blocking?
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# Technology # Science and Technology # manufacturing # Industry # Russia # Energy # economy # oil and gas