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NYSE to Commence Delisting Proceedings Against CNOOC Limited (CEO) to Comply with Executive Order 13959

Feb 26, 2021

NEW YORK, February 26, 2021 – The New York Stock Exchange LLC (“NYSE” or “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the American depositary shares of CNOOC Limited (the “Issuer”) — ticker symbol CEO — from the NYSE. Trading in the American depositary shares will be suspended at 4:00 a.m. Eastern Standard Time on March 9, 2021.

NYSE Regulation reached its decision that the Issuer is no longer suitable for listing pursuant to Listed Company Manual Section 802.01D in light of Executive Order 13959 (the “Order” or “E.O. 13959”), which was signed on November 12, 2020 and updated guidance provided by the Office of Foreign Assets Control (“OFAC”) on January 27, 2021 in General License 1A and FAQ 879. Pursuant to section 1(a)(ii) of E.O. 13959, prohibitions relevant to entities listed on the NS-CCMC List pursuant to section 4(a)(iii) take effect beginning 9:30 a.m. eastern time on the date that is 60 days after such listing. Accordingly, the relevant prohibitions with respect to CNOOC Limited, which was added to the NS-CCMC List on January 8, 2021, begin on March 9, 2021.

The Issuer has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Issuer’s securities upon completion of all applicable procedures, including any appeal of the NYSE Regulation staff’s decision.

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