Anadarko Petroleum Corporation (NYSE:APC) and CNOOC Limited (ADR) (NYSE:CEO) are focusing on increasing their oil production, whereas Occidental Petroleum Corporation (NYSE:OXY) is benefiting from its marketing and trading business.
CNOOC is among the emerging market oil majors that is near mulit-year lows despite high oil prices. Corruptions scandal amongst management and China hard landing concerns have hurt stock price, but not core business.
CNOOC Ltd was incorporated in Hong Kong on August 20, 1999. The Company and its subsidiaries are engaged in the exploration, development, production and sale of crude oil, natural gas and other petroleum products.
BP plc (ADR) (BP) will sign a long-term deal worth nearly $20 billion with CNOOC Ltd (ADR) (CEO) today, to provide more liquefied natural gas (LNG) to the southeastern part of the second-largest economy in the world.