CNOOC chief executive steps down

China’s top offshore oil and gas producer, CNOOC Ltd, announced that Xu Keqiang has resigned as the company’s chief executive officer and has been re-designated as a non-executive director.

Xu, aged 51, was appointed director and vice secretary of the party leadership group of CNOOC in 2020 and has served as the CEO of CNOOC Limited since 2019.

He will be replaced by Zhou Xinhuai as an executive director and the CEO. Zhou has worked with the CNOOC group since 1996 in various roles.

Wang Dongjin, chairman of CNOOC Limited, commented: “On behalf of the board of directors, I would like to express our sincere gratitude to Mr. Xu for his outstanding contributions to the company during his tenure and to extend a warm welcome to Mr. Zhou upon his appointment as an executive director and CEO  of the company. The company will stick to the profit-driven strategy, continue to promote high-quality development and create greater value for shareholders.”

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