CNOOC: Output growth limits first-half slip

摘要

Profit fall of 55% better than most, say Hong Kong-Chinese offshore producer CNOOC's consolidated first-half net profit plummeted 55% on year to Yuan 12.4 billion ($1.82 billion), despite a 15.2% jump in overall production to 105.8 million barrels of oil equivalent, the company reported August 26. The Hong Kong- and New York-listed company pumped 20.1% more crude, at 87.3 million barrels in the period compared with a year ago. First-half natural gas output, however, was down 3.5% to 106.3 Bcf. Net crude and gas contribution from the company's overseas assets totaled 15 million boe in H1, up 38.9% on year.