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CNOOC CEO resigns

Written by  OE Staff Tuesday, 18 April 2017 09:48

CNOOC CEO Yang Hua has resigned from his position effective today (18 April), with Yuan Guanguy taking the reigns.

Yang, who was only CEO for less than one year at the company, will stay on as the chairman of the board.

Yang was promoted from a non-executive director to an executive director and appointed as the chief executive officer of the company with effect from 15 June 2016.

Yuan, an existing executive director, has been appointed as the chief executive officer of the company with effect from 18 April 2017, leaving his position as president.

Born in 1959, Yuan is a professor-level senior engineer. He joined CNOOC in 1982 and has over 30 years of experience in the oil and gas industry. From February 1993 to October 2001, Yuan served as deputy manager of CNOOC Bohai Drilling Co., deputy general manager of CNOOC China Offshore Oil Northern Drilling Co., deputy general manager of the Operational Department of CNOOC, general manager of CNOOC China Offshore Oil Northern Drilling Co. From October 2001 to January 2009, Yuan served as general manager and president of CNOOC Services, and vice chairman of the board of directors, chief executive officer and president of China Oilfield Services Ltd. In November 2006, Yuan was appointed as the assistant president of CNOOC. In January 2009, Yuan was appointed as the executive vice president of the company. In April 2013, Yuan was appointed as director of Bohai Petroleum Administrative Bureau of CNOOC and General Manager of CNOOC China Ltd. Tianjian Branch, a subsidiary of the company. Yuan also serves as the director and general manager of CNOOC China Ltd. and the director of CNOOC International Ltd., both subsidiaries of the company. He was appointed as executive director and president, and chairman of CNOOC International Ltd. with effect from 15 June 2016.

He graduated from China University of Petroleum with a bachelor’s degree in drilling engineering. He graduated from the EMBA program of China Europe International Business School in 2007 with an MBA degree.

Xu Keqiang has been appointed as an executive director and the president of the company. A senior engineer, he graduated from Northwest University with a bachelor of science degree in oil and gas geology.

In March 2017, Xu was appointed as VP of CNOOC.

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