CNOOC's first-half profits fall 13% due to lower oil prices
CNOOC, the Chinese offshore oil-and-gas major, reported a 13% drop in its interim net income as lower oil prices countered the impact of record oil and natural gas production. According to a Hong Kong Stock Exchange filing, the net profit attributable equity shareholders fell to 69.5 billion Yuan ($9.7billion) following a record-breaking interim profit in 2024. Sinopec, a domestic competitor, reported a 40% drop in earnings at $2.99 billion.
Gazprom Neft Sells Its First Arctic Oil Cargo to China
Russia's Gazprom Neft has sold its first ever Arctic oil cargo to China to ChemChina, two sources familiar with the deal told Reuters on Thursday.This week, Gazprom Neft said it had sent 144,000 tonnes of light Novy Port oil grade to the Chinese port of Yantai on the Bohai Sea from Russia's north-western city of Murmansk, using the Northern Sea Route (NSR) through Russia's Arctic waters.The Delta Hellas vessel used part of the NSR, a route requiring i
CNOOC Earnings on the Rise
China's national offshore producer CNOOC Ltd reported a near 19% rise in first-half profit on Thursday, as higher sales of oil and gas offset weaker global oil prices.The listed arm of state-owned China National Offshore Oil Corp said that it was able to manage the impact on its business of the China-U.S. trade war and CNOOC President Xu Keqiang said the company…
CNOOC Becomes China’s First OPITO Approved Safety Trainer
The largest producer of offshore crude oil and natural gas in China, the China National Offshore Oil Corporation (CNOOC), has become the country’s first organization certified to train workers to OPITO safety standards.Its safety training facility, CNOOC Safety & Technology Services Co., Ltd, achieved the internationally recognized approval this summer and it’s anticipated that more than 1…