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CNOOC: CN Investment to Record Stable Increase in Future w/ Continuous Enhancement in Reserve & Production
Recommend 23 Positive 28 Negative 5 |
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Yan Hongtao, President of CNOOC (00883.HK)(600938.SH), said at the results conference that the goal is to make CNOOC a century-old enterprise. Although high oil prices are beneficial to the Company's results, the Company will not rely on high oil prices, and will always prepare for low oil prices, according to Chinese media. Currently, the Company has sufficient cash flow, and hopes to find potential overseas M&A opportunities in a low oil price environment. Yan emphasized that future investments in China will steadily increase, while CNOOC is also seeking overseas investment opportunities. In 1H25, CNOOC continued to advance reserve and increase production, achieving significant results in oil and gas exploration. During the period, five new discoveries were made, and 18 oil and gas bearing structures were successfully evaluated. In China, new discoveries were made in Jinzhou 27-6 and Caofeidian 22-3, with successful evaluations of oil and gas bearing structures in Qinhuangdao 29-6 and Lingshui 25-1, etc.. AASTOCKS Financial News Website: www.aastocks.com |
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