China National Offshore Oil Corp. (CNOOC) posted higher revenues in the third quarter on the back of stronger oil and gas prices but saw production decline for a fourth consecutive quarter, raising more questions about its growth outlook. CNOOC Ltd., the Hong Kong, New York and Toronto-listed arm of state-owned CNOOC, posted revenues of 37.25 billion yuan ($5.6 billion), up roughly 15% compared to the third quarter of 2016 (IOD Aug.25’17). The company reports profits only for the half and full-year.
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