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Nexen Energy, a wholly-owned subsidiary of Chinese oil company CNOOC Ltd (ADR) (NYSE:CEO), has decided to slash its total workforce by 13% in an attempt to cope with the sharp decline in crude oil price.
The leadership reshuffle will see changes at the top in state-run energy companies such as: China National Offshore Oil Corporation, also known as CNOOC Ltd. (ADR) (NYSE:CEO), Sinopec Group, and China National Petroleum Corporation (CNPC).
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 Limited (ADR) (CEO) According to our 13F database, Fisher Asset Management, managed by Ken Fisher, holds the most valuable position in CNOOC Limited (ADR) (NYSE:CEO). Fisher Asset Management has a $51.8 million position in the stock, ...