CNOOC's output swells 15% in Q1
Published: 03 May 2009 22:41:25 PSTMay 4, 2009 (China Knowledge) - CNOOC Ltd<0883><CEO>, an arm of China's largest offshore oil company, China National Offshore Oil Corp, announced on Apr. 29 that its daily net production of oil and natural gas hit 566,860 barrels in the first quarter of this year, a year-on-year increase of 15%, sources reported. In the period from January to March, total production of crude oil and liquids stood at 468,535 barrels per day, growing 19.7% year on year, while daily gas yield was 563 million cubic feet. The oil developer saw overseas oil and gas output rise 30.9% to 31,481 barrels per day in the first three months. The un-audited revenue of the enterprise, however, dived 41.9% to RMB 13.95 billion due to the low price of crude oil. In the first quarter, the firm’s average oil price plunged 53.2% to US$41.56 per barrel. In the first three months of this year, the oil company recorded a capital expenditure of RMB 7.51 billion, of which RMB 5.62 billion was spent for oilfield development. Copyright © 2009 www.chinaknowledge.com |
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