Latest News:  


CNOOC Ltd. Q1 oil, gas revenues up 13.3 pct


08:28, April 27, 2013

BEIJING, April 26 (Xinhua) -- CNOOC Ltd., the country's largest offshore oil producer, said Friday its revenues from oil and gas sales rose 13.3 percent year on year due to increased output in the first quarter of 2013.

The revenues, which have yet to be audited, reached 55.31 billion yuan (8.89 billion U.S. dollars) in the first quarter, the company said in a statement.

The growth was much faster than the annual rise of 2.9 percent in 2012.

Net output of oil and gas jumped 17.3 percent year on year to 93.6 million barrels in the first quarter, compared with the annual 3.2-percent gain in 2012.

The company, listed in New York and Hong Kong, attributed the higher output to its acquisition of Canadian energy firm Nexen Inc. and production from new oil fields and overseas projects.

CNOOC completed the deal to acquire Nexen in February, paying about 15.1 billion U.S. dollars for all of the firm's common and preferred shares in the biggest ever overseas takeover made by a Chinese company.

Nexen runs oil sands and shale gas projects in western Canada. It also conducts conventional exploration and development operations, primarily in the British North Sea, off the shores of West Africa and in the Gulf of Mexico.

In the first quarter, CNOOC discovered four new oil fields in Chinese waters, according to the statement.

We Recommend:

Living in mini homes in China

Stunning models at Bangkok Int'l Auto Show

Shanghai Tower, tallest skyscraper in China

Bird flu fears hit poultry industry

Bird flu takes toll on poultry industry

Int'l footwear exhibition kicks off in Shanghai

Email|Print|Comments(Editor:ChenLidan、Ye Xin)

Leave your comment0 comments

  1. Name


Selections for you

  1. Israeli military naval ship and helicopter

  2. Soldiers in earthquake relief

  3. Bangladesh collapse death toll rises to 195

  4. Photo story: Flight attendant's daily work

  5. Images of Hong Kong in 15 years

  6. Lingyin Temple raises money, prayers for quake-hit area

  7. 'Qing Dynasty Queen' hosts sacrificial rites

  8. China Graduate Fashion Week opens in Beijing

  9. Entrepreneurs see potential in market

  10. No new stimulus needed as economy remains stable

Most Popular


  1. Looking forward to higher level of Sino-French ties
  2. Domestic dairy firms have lost credibility
  3. Lax food hygiene leaves bad taste
  4. Urbanization to fuel China's economic growth
  5. Supervise, don't smear Red Cross
  6. Offering security protection for co-development
  7. Insisting on wrong road, Japan has no future
  8. US 'turns blind eye to human rights'
  9. Are cities expanding too fast and too soon?
  10. Homework, games limit kids' reading

What’s happening in China

Doing yoga in the cell

  1. Kindness amid the chaos in the quake zone
  2. Fudan med student is charged with homicide
  3. Phone bookings for taxis
  4. Overseas parties' lawsuits surge in Shanghai
  5. Screens found to be dangerous