Cnooc Ltd. (CEO), China's largest listed offshore oil and gas producer by capacity, said Thursday its first-half net profit more than doubled from a year earlier because of rising oil prices and higher oil and gas output.
Cnooc Ltd. (CEO), China's largest listed offshore oil and gas producer
by capacity, said Thursday its first-half net profit more than doubled from a
year earlier because of rising oil prices and higher oil and gas output.
Net profit for the six months ended June 30 was CNY25.99 billion (US$3.35
billion), up from CNY12.40 billion a year earlier.
The result was above the average CNY21.07 billion forecast of six analysts.
Revenue more than doubled to CNY83.16 billion from CNY40.65 billion.
Cnooc said its crude oil and gas output in the first half rose 41% to 149.0
million barrels of oil equivalent.
The average selling price of its crude oil was US$76.59 a barrel in the first
half, up 55% from US$49.35 a year earlier.
The company proposed a first-half dividend of HK$0.21, up from HK$0.20 a year
earlier.
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