26 April 2013 10:27 [Source: ICIS news]
SINGAPORE (ICIS)--Hong Kong-listed CNOOC Ltd announced on Friday that its total revenues in the first quarter increased 14% year on year to yuan (CNY) 56bn ($9bn), largely because of higher production.
Sales of oil and gas in the three months ending March rose 13.3% to CNY55.3bn, the company said in a statement.
The company’s average realized prices fell for oil by 8.7% to $110.29/bbl, and for gas by 1.5% to $5.79/thousand cubic feet.
CNOOC’s oil and gas production in the March quarter grew 17.2% on year to 93.6m barrels of oil equivalent.
Its capital expenditure for exploration, development and production reached approximately CNY14.8bn, representing a 53.5% year-on-year increase.
CNOOC Ltd is a subsidiary of China National Offshore Oil Corp (CNOOC).
($1 = CNY6.17)
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