CNOOC denies imminent issue of A shares

A spokesman with China National Offshore Oil Corp (CNOOC), the country's largest offshore oil producer, has denied the company plans to issue A shares soon, according to Friday's Shanghai Securities News.

The spokesman's claim was in response to media reports that Fu Chengyu, chairman of the CNOOC, had said the company was set to issue A shares to raise funds for purchasing overseas oil and gas companies.

Last year, CNOOC failed to purchase Unocal, a U.S. oil producer.

Source: Xinhua