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CNOOC Ltd (0883.HK)

0883.HK on Hong Kong Stock

9.52HKD
25 Sep 2017
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Latest Key Developments (Source: Significant Developments)

BP and Bridas to combine PAE and Axion Energy
Monday, 11 Sep 2017 07:10am EDT 

Sept 11 (Reuters) - Bp Plc ":HAS AGREED WITH BRIDAS CORP TO INTEGRATE PAN AMERICAN ENERGY AND THE DOWNSTREAM COMPANY AXION ENERGY TO PRODUCE A 50:50 OWNED INTEGRATED OIL AND GAS COMPANY.CO OPERATING PRIMARILY IN ARGENTINA BUT WITH INTERESTS ELSEWHERE IN THE REGION.PAEG WILL BE OWNED EQUALLY BY BP AND BRIDAS CORPORATION, ITSELF A 50:50 JOINT VENTURE OF BRIDAS ENERGY HOLDINGS OF ARGENTINA AND CNOOC LIMITED OF CHINA.TRANSACTION IS SUBJECT TO REGULATORY FILING OR APPROVAL IN SEVERAL JURISDICTIONS. COMPLETION OF THE AGREEMENT IS ANTICIPATED IN EARLY 2018.NEW COMPANY, PAN AMERICAN ENERGY GROUP (PAEG), WILL BE OPERATING IN ARGENTINA.  Full Article

CNOOC posts HY consol net profit of RMB 16.25 bln
Thursday, 24 Aug 2017 04:50am EDT 

Aug 24 (Reuters) - CNOOC Ltd <0883.HK>:HY consol net profit RMB 16,250 million versus loss of RMB 7,735 million a year ago.HY oil and gas sales RMB 74,943 million versus RMB55,083 million.HY net production of oil and gas 237.9 million boe, down 1.5 percent a year ago.Interim dividend of HK$0.20 per share.International oil prices may continue to hover at low level for an extended period.In second half of year, global oil market is expected to face short-run adjustments and long-run transition.  Full Article

Neo Telemedia says Guangdong Bluesea Mobile Development and CNOOIT entered into JV agreement
Monday, 19 Jun 2017 07:24am EDT 

June 19 (Reuters) - Neo Telemedia Ltd <8167.HK>::Guangdong Bluesea Mobile Development and China National Offshore Oil Information Technology enters jv cooperation framework agreement.Guangdong Bluesea and CNOOIT to establish joint venture co for joint investment in development of data center business in energy industry.  Full Article

China Oilfield Services updates on deposit and settlement agreement
Thursday, 27 Apr 2017 07:49am EDT 

April 27 (Reuters) - China Oilfield 2883.HK:Entering into the deposit and settlement agreement .Expects to enter into a new deposit and settlement agreement with CNOOC Finance on 8 May 2017.  Full Article

CNOOC says Q1 total net production 119.1 mln BOE,down 4.2 pct
Thursday, 27 Apr 2017 06:20am EDT 

April 27 (Reuters) - Cnooc Ltd <0883.HK>:Total net production of 119.1 million barrels of oil equivalent (“BOE”) for first quarter, a decrease of 4.2 pct year over year.Unaudited oil and gas sales revenue of the company reached approximately RMB 38.39 billion for Q1, representing an increase of 55.8 pct.In Q1 company’s average realized oil price increased 58.7 pct yoy to US$51.64 per barrel.Q1 company’s average realized gas price was US$6.00 per thousand cubic feet, increasing by 5.4 pct yoy.For first quarter of 2017, co's capital expenditure reached approximately RMB 8.67 billion, representing a decrease of 10.6 pct yoy.  Full Article

CNOOC says Yuan Guangyu appointed as CEO of company
Tuesday, 18 Apr 2017 05:17am EDT 

April 18 (Reuters) - CNOOC Ltd <0883.HK> ::Yang Hua, an existing executive director and chairman of board, has been re-designated as a non-executive director.Yang Hua, an existing executive director and chairman of board, has been re-designated as a non-executive director of company.Yuan Guangyu, an existing executive director, has been appointed as chief executive officer of company.Xu Keqiang has been appointed as an executive director and president of company.Yang has resigned as chief executive officer of company and he remains as chairman of board.Yuan has resigned as president of company.  Full Article

CNOOC says FY net profit RMB 637 mln
Thursday, 23 Mar 2017 04:39am EDT 

CNOOC Ltd : fy net oil and gas production of 476.9 million boe . fy net profit rmb 637 million versus rmb 20,246 million a year ago . Recommended a final dividend of hk$0.23 (tax inclusive) per share . fy total revenue rmb 146,490 million versus rmb 171,437 million . in 2017, 5 new projects will commence production . "group is dealing with a number of other lawsuits and arbitrations that arise in ordinary course of business" . "company believes these proceedings are not expected to have a material effect on consolidated financial statement" . Plan to increase reserves and production through drill bits and value-driven acquisitions .Will continue to concentrate independent exploration efforts on operating areas, especially offshore China.  Full Article

CNOOC says total capital expenditure for 2017 is budgeted at RMB60 bln to RMB70 bln
Thursday, 19 Jan 2017 03:34am EST 

CNOOC Ltd <0883.HK> : Company's total capital expenditure for 2017 is budgeted at rmb60.0 billion to rmb70.0 billion . targeted net production for 2017 is 450 million to 460 million barrels of oil equivalent . company's net production for 2016 is expected to be approximately 476 million boe. . net production for 2018 and 2019 are estimated to be 455 million to 465 million boe and 460 million to 470 million boe, respectively. . in 2017, five new projects are expected to come on stream . Company will maintain prudent financial policy, improve capital efficiency and ensure sustainable development . in 2017, company plans to drill 126 exploration wells . in 2017, company plans to acquire approximately 13 thousand square kilometers 3-dimensional (3d) seismic data .currently, nearly 20 projects are under construction.  Full Article

CNOOC says Liu Jian appointed vice chairman
Tuesday, 20 Dec 2016 03:32am EST 

CNOOC: Change in directors and other positions . Liu Jian has been appointed as vice chairman and a non-executive director .Lv Bo has resigned as a non-executive director.  Full Article

CNOOC Ltd enters into financial services framework agreement
Thursday, 1 Dec 2016 05:49am EST 

CNOOC Ltd <0883.HK>: Company and cnooc finance entered into framework agreement on 1 december 2016 .Cnooc finance has agreed to continue to provide services to group for a term of three years with effect from 1 january 2017.  Full Article

UPDATE 1-China's CNOOC ends feasibility study for Western Canadian LNG terminal

CALGARY, Alberta, Sept 14 China's CNOOC Ltd said on Thursday it will end the feasibility study for its (LNG) export terminal on British Columbia's coast due to low global commodity prices, in the latest setback for Canada's energy industry.