CNOOC's Nexen Energy Announces Plans to Lay Off 400 Workers

(Beijing) – A China National Offshore Oil Corp. (CNOOC) subsidiary in Canada has announced a plan to lay off 400 workers amid falling oil prices.

Nexen Energy, a wholly owned subsidiary of CNOOC headquartered in the western Canadian city of Calgary, announced on March 17 it will cut 340 employees in North America and another 60 at Nexen's operations in Britain.