CNOOC Q3 revenue surges 69.1%
China’s largest offshore oil producer CNOOC Ltd<883>, the listed arm of China National Offshore Oil Corp, said its unaudited total revenue surged 69.1% year-on-year to hit RMB 30.9 billion in the third quarter boosted by the rising oil and gas prices, market sources reported.
In the third quarter, its net daily production totaled 549,589 barrels of oil equivalent (BOE), representing a year-on-year rise of 15.2%.
Meanwhile, its unaudited revenue from selling oil and gas during the quarter went up 67.9% from a year earlier to RMB 30.5 billion, which was up 65.3% to RMB 84.95 billion over the first three quarters, the oil producer said in a filing with the Hong Kong Stock Exchange.
Its average oil price moved up 58.7% over the same period of last year to US$106.94 per barrel, while average gas price rose 11.7% to 3.83 per thousand cubic feet.
The company’s net daily output overseas was 68,732 BOE, up 15.6% year-on-year, while that from offshore China climbed 15.2% to 480,857 BOE, including output of crude oil and liquids, and gas standing at 407,712 barrels and 424 million cubic feet respectively.
Over the third quarter, CNOOC ’s capital expenditure amounted to RMB 10.19 billion, up 44.9% from a year earlier.
Tags: CNOOC, oil-prices