CNOOC profit soars by 113.5pc to 52.7b yuan
Chinese oil and gas explorer CNOOC Limited reported today net profit for 2018 soared by 113.5 percent to 52.7 billion yuan on oil and gas sales revenue of 185.9 billion yuan.
The board recommended a final dividend of HK$0.40 (tax inclusive) per share for 2018.
Oil and gas sales were 185.87 billion (US$28.07 billion), representing an increase of 22.4 percent over the previous year.
The basic and diluted earnings per share were 1.18 yuan and 1.18 yuan, respectively for the year ended December 31, 2018.
In 2018, net production of oil was 475 million barrels, up by 1 percent from 470.2 million barrels in 2017.
CNOOC said, 17 commercial discoveries were made in 2018 and 17 successful appraisals of oil and gas structures were achieved.
Overseas, 12 discoveries were made in the Stabroek block in Guyana.
Source: The Standard
Published: 21-03-2019
