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CNOOC Surges in Shanghai Debut; Chinese Oil Giant to Leave US, UK Projects

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CNOOC Surges in Shanghai Debut; Chinese Oil Giant to Leave US, UK Projects
The headquarters building of China National Offshore Oil Corp. (CNOOC) in Beijing, on July 29, 2016. STR/AFP via Getty Images
Andrew Moran
Updated:

China National Offshore Oil Corporation, or CNOOC, soared as much as 44 percent in its debut on the Shanghai Stock Exchange on April 21.

After hitting the daily upper limit, trading was suspended amid enormous fluctuation. The stock pared its gains to end the session up 28 percent.

Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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