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Fly News Breaks for October 30, 2018
CEO, CHOLY
Oct 30, 2018 | 19:17 EDT
Goldman Sachs analyst Mark Wiseman upgraded China Oilfield Services Ltd (CHOLY) to Buy, citing the "strengthening outlook for offshore China capex". The analyst points to the "government pressure on SOE's to contain oil import dependence, natural gas shortages, and stronger oil prices" having a positive impact on the shares. Wiseman adds that the Q3 call by CNOOC (CEO) also confirmed that a sharp increase in China oil development investment is underway.
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