18 July 2019

CNOOC 3Q production up 17.8% on year, filing says

China National Offshore Oil Corp. (CNOOC) (00883.HK), the nation’s largest offshore oil producer, said net production was 103.4 million barrels of oil equivalent in the third quarter, up 17.8 percent year on year. The increase was mainly attributed to a 16.1 million barrel contribution from Canadian oil and gas company Nexen Inc. which it acquired last year, it said in a stock exchange filing Thursday. Stripping out Nexen’s contribution, net production was lower than a year earlier, it said. Unaudited income from oil and gas sales was about 56.14 billion yuan (US$9.23 billion) during the period, up 15.9 percent from a year earlier. The average selling price of oil was US$106.26 per barrel, up 1.5 percent, the filing said.

– Contact HKEJ at [email protected]



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