CNOOC Net Up 51% Year on Year in H1

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BEIJING, Aug 25, 2011 (SinoCast Daily Business Beat via COMTEX) -- China National Offshore Oil Corporation (CNOOC, HKEX: 00883) released its interim results on August 24.

The report shows that the net profit of the company surged by 51.4% year on year to CNY 39.34 billion in the first half of this year. The basic EPS (basic earnings per share) was CNY 0.88.

In addition, the net production of oil and gas amounted to 168.7 million barrels oil equivalent (MMBOE) in the first half of this year, increasing by 12.9% year on year.

In the first half of this year, CNOOC realized USD 108.16 per barrel in the oil price, swelling by 40.8% over the same period in the prior year. And the price of the natural gas was USD 4.92 per thousand cubic feet (Mcf), increasing by 15.5% year on year.

Benefited from this, CNOOC raked in CNY 97.03 billion in the sales revenue of the oil and natural gas in the first half of this year.



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