China's CNOOC H1 profit soars 51.4% on better sales, output
24 August 2011 11:05 [Source: ICIS news]
SHANGHAI (ICIS)--China National Offshore Oil Corp (CNOOC) reported on Wednesday a 51.4% year-on-year surge in first-half 2011 net profit to yuan (CNY) 39.34bn ($6.2bn), in line with higher revenue and production.
Its total net oil and gas production stood at 168.7m barrels of oil equivalent (BOE) for the period, representing a 12.9% increase from the same period last year, CNOOC said in a statement.
New oilfields and development wells helped boost overall earnings, the company said, adding that oil and gas sales revenue for January-June 2011 surged 45% year on year to CNY97bn.
CNOOC said its operating cost for the period fell 3.8% year on year to $7.00/bbl.
($1 = CNY 6.39)
By: Dolly Wu
+65 6780 4359
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
| ICIS news FREE TRIAL |
| Get access to breaking chemical news as it happens. |
| ICIS Global Petrochemical Index (IPEX) |
| ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index |
Related Articles
- 17 Oct 11 05:01 China’s CNOOC cleans up minor oil spill at Bohai Bay pipeline
- 26 Aug 11 11:24 China's CNOOC-Kings to halt September and October PX deliveries
- 03 Aug 11 07:22 China’s CNOOC builds CNY6.5bn LNG project at Hainan
- 02 Aug 11 08:52 China approves CNOOC’s LNG development project in Australia
- 11 Jul 11 04:02 Fire shuts CNOOC-Kings Group’s PX unit in Huizhou
- 20 Jul 11 10:43 CNOOC-Kings Group may restart Huizhou PX unit in July
- 20 Jul 11 10:52 China’s CNOOC improves safety management across all operations
Latest News
- 20 Jun 13 09:24 China’s Shuangtu New Material starts up polyester plant
- 20 Jun 13 09:24 BASF begins construction of crop protection products unit in China
- 20 Jun 13 09:21 Expansions could alter caustic soda trade flows: expert
- 20 Jun 13 09:14 China’s Fushun Petchem to restart base oils plant in late June
- 20 Jun 13 09:13 Germany's SGL forms carbon composite materials JV with Samsung