China: Oil Company About-Face · Global Voices
Jose Manuel Tesoro

Talk Talk China goes after China National Offshore Oil Corporation (CNOOC, pronounced “see-nook”), which changed its “no-compete” promise to investors who bought shares in its New York and Hong Kong publicly listed subsidiary CNOOC Limited.  The pledge was meant to assure investors that the state-owned parent wouldn't steal away the publicly-held subsidiary's lucrative business. Now it can.