HONG KONG, April 22 China's top offshore oil and
gas producer CNOOC Ltd on Tuesday posted a 15.5
percent increase in its first quarter production, thanks largely
to its $15.1 billion acquisition of Canadian energy firm Nexen
in February last year.
Total net output rose to 108.1 million barrels of oil
equivalents (boe) in the first three months of this year, the
company said in a filing with the Hong Kong stock exchange.
Excluding the contribution from Nexen, production was
largely flat at 88.8 million boe.
Revenue rose 6.9 percent year-on-year to 59.15 billion yuan
($9.50 billion) in the first quarter as realised oil prices
dipped 5.1 percent to $104.63 per barrel, CNOOC said. The
company does not report quarterly profit figures.
CNOOC last month posted an 11.4 percent slide in its 2013
net profit, lagging analysts' forecasts, as it struggled to
deliver production growth and control costs amid weakening crude
($1 = 6.2274 Chinese yuan)
(Reporting by Charlie Zhu; Editing by Miral Fahmy)