China's CNOOC swings to H1 net loss on lower oil prices

摘要

SINGAPORE (ICIS)--CNOOC swung to a net loss of Chinese yuan (CNY) 7.74bn ($1.17bn) in the first six months of this year from a net profit of CNY14.7bn in the same period of 2015 amid the sharp drop in global crude oil prices, the state-owned oil and gas giant said on Wednesday. CNOOC's oil and gas sales dropped by 28.5% year on year to CNY55.1bn in the first half of this year, the company said in a statement.