CNOOC gets new CEO, Moody's upgrades rating

CNOOC Limited announced Friday that Fu Chengyu had been appointed as chairman and chief executive officer to replace Wei Liuchen.

Fu was the chief operating officer and president of CNOOC Limited prior to the appointment.

"Mr. Fu becomes the president of China National Offshore Oil Corporation (CNOOC), the company's parent, following a recent appointment," CNOOC Ltd said in a statement.

Meanwhile, the company also said that Moody's Investors Service had upgraded the issuer rating of the company and the foreign currency long-term debt rating of its guaranteed subsidiary, CNOOC Finance (2002) Ltd, to A2 from Baa1.

"Moody's also upgraded the issuer rating of the company's parent - CNOOC from Baa1 to A2," the statement said, adding that the outlook on all the ratings is stable.

CNOOC Limited is the largest offshore crude oil producer in Indonesia. Last year, the company?s Indonesian net production reached 346,639 barrels of oil equivalent per day.(*)