China National Offshore Oil Corp. (CNOOC) said Tuesday that output in 2008 is likely to have totaled 194 million-196 million barrels of oil equivalent (530,000-536,000 barrels of oil equivalent per day), about 14% higher than in 2007.At a strategy preview for 2009, Chief Financial Officer Yang Hua said 2008 was a tough year, largely because of oil price volatility, while constraints in the services sector resulted in some project delays. He told analysts that the state giant would take a prudent financial approach and keep costs low in a bid to boost output and reserves.
展开▼
