Welcome to our dedicated page for CNOOC news (Ticker: CEO), a resource for investors and traders seeking the latest updates and insights on CNOOC stock.
CNOOC Limited (NYSE: CEO), a global leader in offshore oil and gas exploration, provides investors with critical updates through this dedicated news hub. Track all official announcements including quarterly earnings, operational milestones, and strategic partnerships in one centralized location.
This resource delivers timely updates on exploration breakthroughs, production efficiencies, and market positioning essential for informed analysis. Users will find press releases covering new offshore projects, sustainability initiatives, and financial performance metrics.
Key updates include drilling advancements in complex geological formations, international expansion efforts, and technological innovations in energy extraction. Bookmark this page to monitor how CNOOC’s integrated operations and cost leadership shape its role in global energy markets.
CNOOC Limited (SEHK: 00883) has announced its 2023 business strategy, raising its net production target to 650-660 million barrels of oil equivalent (BOE). The capital expenditure budget is set at RMB 100-110 billion, with major projects in China and Guyana. The company aims for an annual dividend of no less than HK$0.70/share from 2022-2024. CEO Zhou Xinhuai emphasizes the focus on production augmentation, technological innovation, and green energy transition, aiming to enhance shareholder value and reduce emissions.
CNOOC Limited has officially commenced production at the Kenli 6-1 Oilfield 5-1, 5-2, 6-1 Block Development Project, located in the Bohai Sea. This project features 1 central platform and 6 unmanned wellhead platforms, with an expected peak production of approximately 36,100 barrels of crude oil per day by 2024. It marks a significant advancement in the company's efforts to develop intelligent, standardized, unmanned offshore oilfields. CNOOC holds a 100% interest in this project, which is the first large-scale shallow lithological oilfield discovered in the area.
CNOOC Limited announced on October 19, 2022, that the Baodao 21-1 Gas Field's proved gas in-place has successfully passed governmental review. This gas field, located in the South China Sea, holds over 50 billion cubic meters of natural gas and 3 million cubic meters of condensate oil. The discovery well, Baodao 21-1-1, produced an average of 587,000 cubic meters of natural gas per day from a pay zone of 113 meters. This highlights significant exploration potential for CNOOC, establishing a foundation for future gas production.
CNOOC Limited announced the early production commencement of the Dongfang 1-1 Gas Field Southeast Zone and Ledong 22-1 Gas Field South Block Development Project on September 1, 2022. Located in the Yinggehai area of the Western South China Sea, the projects utilize existing processing facilities and will have four development wells with two subsea production systems. These projects are projected to peak at approximately 44 million cubic feet of natural gas per day. CNOOC holds a 100% interest in both development projects.
CNOOC Limited reported remarkable 2022 interim results, achieving a net profit of RMB 71.89 billion, up 115.7% year-on-year, alongside a record-high interim dividend of HK$0.70 per share. The oil and gas sales revenue surged to RMB 176.68 billion, marking a 75.6% increase. Net production reached 304.8 million BOE, a 9.6% rise, as the company made significant offshore discoveries. Capital expenditure rose by 15.4% to support future growth. CNOOC emphasized its commitment to green energy and technological innovation, enhancing operational quality during high oil prices.
CNOOC Limited announced that Liza Phase II has commenced production ahead of schedule at the Stabroek Block, offshore Guyana. Utilizing a new FPSO and 30 subsea wellheads, the facility is set to reach peak production of approximately 220,000 barrels of crude oil per day within this year. The Stabroek Block holds over 10 billion barrels of recoverable resources, with plans for at least six FPSOs producing over 1 million barrels per day by 2027. CNOOC holds a 25% interest in the project.
HONG KONG, Nov. 30, 2021 /PRNewswire/ -- CNOOC Limited announced plans to deregister with the U.S. SEC and terminate its reporting obligations under the U.S. Securities Exchange Act of 1934. The delisting became effective on October 22, 2021, following the filing of Form 25 on October 12, 2021. CNOOC will file Form 15F on November 30, 2021, with deregistration expected to be effective 90 days later. Despite this move, the Company's shares will remain listed and traded on The Stock Exchange of Hong Kong Limited.
CNOOC Limited (SEHK: 00883, TSX: CNU) has commenced production for the Lufeng oil fields regional development project in the Eastern South China Sea. This project encompasses multiple oil fields with a plan for 35 development wells, including 26 production and 9 water injection wells. The peak production is estimated to reach approximately 46,000 barrels per day in 2023. CNOOC holds a 100% interest in the project, which aims to maximize asset value and ensure energy supply in the Greater Bay Area.
CNOOC Limited reported a 9.9% year-over-year (YoY) increase in total net production for Q3 2021, totaling 144.1 million barrels of oil equivalent (BOE). Production in China surged 13.0% YoY to 100.1 million BOE, driven by new projects. The company made nine new discoveries and commenced six new projects, enhancing operational capabilities. Average realized oil prices rose 63.6% YoY to US$70.38 per barrel, contributing to a revenue increase of 63.3% YoY, totaling approximately RMB58.03 billion. Capital expenditure was up 13.8% YoY at RMB20.94 billion.
CNOOC Limited (CEO) announced a significant oil discovery at the Kenli 10-2 oilfield in Bohai, with an average water depth of 15.7 meters. The discovery well was drilled to a depth of 1,520 meters, revealing oil pay zones totaling approximately 27 meters and a production rate of 569 barrels per day. This discovery is noted as a breakthrough for lithological oilfields in the Bohai region, potentially holding reserves of up to 100 million tons. The company aims to enhance its oil and gas exploration efforts for sustainable growth.
