Reuters reveals China’s oil champion prepares Western retreat over sanctions fear

Reuters exclusively reported that China’s top offshore oil and gas producer CNOOC is preparing to exit its operations in Britain, Canada and the United States, because of concerns in Beijing that the assets could become subject to Western sanctions. Ties between China and the West have long been strained by trade and human rights issues, and the tension has grown following Russia’s invasion of Ukraine, which China has refused to condemn.