cNOOc to ‘significantly’ cut 2020 oil, gas output, capex targets

摘要

Singapore—China National Offshore Oil Corporation will cut its production and capital expenditure targets for 2020 “significantly,” especially for overseas projects, because of low crude prices. “It looks like the crude oil price will stay low for a few months,” Chairman Wang Dongjin said Wednesday during its 2019 results call. “We must significantly adjust our target for 2020.”