China National Offshore Oil Corp. (CNOOC) has appointed a company chairman, Yang Hua, as its new new CEO.
Hua is replacing Li Fanrong who will join China’s National Energy Administration as deputy director.
Hua said he will continue to lead the company to proactively tackle the challenges of low oil prices, as well as create greater value for shareholders.
Fanrong resigned from his position as chief executive, president and executive director. He was appointed as CEO in 2011, and has successfully led CNOOC in achieving operational targets, including the purchase of Calgary-based Nexen Energy.
CNOOC has also appointed Yuan Guangyu as its new president and executive director.
Wu Guanggi has resigned as compliance officer, taking up the role of non-executive director, and Chen Wei has been appointed as compliance officer and general counsel.
Image: Yang Hua / CNOOC
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