Chinese NOCs delist from NYSE
The voluntary move demonstrates the growing distance between the US and China
China’s two biggest NOCs, Petrochina and Sinopec—which together accounted for three-quarters of national oil and gas production in the first half of 2022—are set to delist from the New York Stock Exchange (NYSE) in a withdrawal that marks the end of an era. Petrochina and Sinopec notified the US Securities and Exchange Commission on 29 August that they would delist their American depositary shares (ADSs) from the NYSE. The delisting is expected to become effective 10 days later, meaning the last day of trading is expected on 8 September. The two NOCs and a petrochemicals subsidiary of Sinopec were among five US-listed Chinese state-owned enterprises (SOEs) that in mid-August announced in qui
Welcome to the PE Media Network
PE Media Network publishes Petroleum Economist, Hydrogen Economist and Transition Economist to form the only genuinely comprehensive intelligence service covering the global energy industry
Comments