U.S. blacklists CNOOC for “bullying” in the South China Sea

China National Offshore Oil Corp. has for years drilled in waters far from its borders, and within 200 miles of countries including Vietnam and the Philippines. The activity amounts to the oil giant acting like a “bully” for China’s military to intimidate its neighbors, U.S. Commerce Secretary Wilbur Ross said in a statement Thursday announcing the move, which restricts access to U.S. technologies without specific permission. More »