Chinese Oil Giant Suffers As U.S. Sanctions Sting

China National Offshore Oil and Gas Company (CNOOC), the biggest Chinese offshore producer with operations both in China and abroad, will see an impact on its oil and gas shipping business, due to the U.S. sanctions on several Chinese tanker owning firms, a senior CNOOC executive said on Thursday. At the end of September, the U.S. imposed sanctions on several Chinese tanker owners for shipping Iranian oil, including units of Cosco, who owns more than 40 oil tankers, including 26 supertankers, or the so called very large crude carriers…