China CNOOC's 2024 net profit rises 11% on record output

Quick Summary:

SINGAPORE: China's CNOOC Ltd posted a rise of 11.4 per cent in 2024 net profit on record output despite weaker oil prices, as the state energy firm continues to focus on increasing reserves and production.

The offshore oil and gas specialist reported a net profit of 137.9 billion yuan (US$18.

It made a total of 10 oil and gas discoveries such as deepwater Lingshui 36-1 gas field in the South China Sea.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaHong Kong

Topics: Production Reserves Cnooc 2024 Yuan Billion Corp Offshore Company China Cent

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-27 @ 17:55:00 (5 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 364 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 27367105

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