|Bid||7.560 x 0|
|Ask||7.570 x 0|
|Day's Range||7.360 - 7.690|
|52 Week Range||6.240 - 15.140|
|Beta (5Y Monthly)||1.15|
|PE Ratio (TTM)||4.94|
|Earnings Date||Mar 25, 2020|
|Forward Dividend & Yield||0.66 (8.49%)|
|Ex-Dividend Date||Jun 04, 2020|
|1y Target Est||16.34|
Unfortunately for some shareholders, the CNOOC (HKG:883) share price has dived 34% in the last thirty days. Indeed the...
(Bloomberg) -- China’s biggest oil and gas producer will adjust its spending plan this year, adding to signals that the government’s push to boost domestic production can’t withstand the collapse in crude prices.PetroChina Co. will “dynamically optimize and adjust” its capital expenditures for 2020, the company said Thursday as it reported earnings, adding that the board had earlier approved spending of about 295 billion yuan ($42 billion), slightly less than last year. That follows a vow Wednesday by Cnooc Ltd., the country’s top offshore producer, to cut capex this year.The spending revisions come as Chinese oil majors have been under pressure from President Xi Jinping’s government to boost domestic output amid the country’s rising dependence on imports in recent years. Neither PetroChina nor Cnooc provided new spending estimates.“Considering the impact of Covid-19 and changes in international oil prices, the group will follow the principle of positive free cash flow, dynamically optimize and adjust the capital expenditures for 2020,” PetroChina said in its statement. The company’s capital spending last year rose 16% to 297 billion yuan, the highest level since 2013.PetroChina will try to balance efforts to address low oil prices with the need to secure energy supply in China, Vice President Li Luguang said on an earnings call. It will plan 2020 crude oil and natural gas production volumes based on this, Li added.Cnooc officials said Wednesday that they would cut capital expenditures from a previous forecast of 85 billion to 95 billion yuan. It spent 79.6 billion yuan in 2019, an increase of 27%.Sinopec Corp., China’s other state-owned oil and gas giant, is set to report earnings Sunday.Cnooc management sees room to lower costs further and will focus efforts on overseas projects, which have higher costs than domestic operations. The company said it plans to reduce some less-efficient overseas output while bolstering domestic production.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
BEIJING/SINGAPORE, March 25 (Reuters) - China's national offshore energy producer CNOOC Ltd reported a 15.9% rise in 2019 profit on Wednesday, its best performance in five years thanks to higher oil and gas output and persistent cost control. CNOOC, one of the industry's lowest-cost explorers and producers, had planned to lift capital spending this year to its highest level since 2014 but the plan might be clouded by the coronavirus outbreak and plunging oil prices. "As the coronavirus outbreak increases uncertainties in global economy and oil prices fall sharply ... the company will implement more stringent cost controls and more prudent investment decisions," said the company statement.
CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) today announced its 2019 annual results for the year ended December 31, 2019.
CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) today announced appointment of Executive Director and change of President. Mr. Hu Guangjie has been appointed as an Executive Director and the President of the Company. Mr. Xu Keqiang has resigned as the President of the Company, and he remains as an Executive Director and the Chief Executive Officer of the Company. The aforementioned changes take effect from March 20, 2020.
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
S&P Global said on Thursday that China National Offshore Oil Corp's (CNOOC) recent declaration of force majeure on some liquefied natural gas (LNG) imports will not affect its ratings or that of Australian LNG exporters. CNOOC, China's biggest LNG importer, has invoked force majeure to suspend contracts with at least three suppliers, two sources told Reuters on Feb. 6.
A report by a nonprofit watchdog group critical of Exxon Mobil Corp's oil contract with Guyana has rekindled a debate over whether the deal is too generous to the company, just a month before a crucial presidential election. In a report http://www.globalwitness.org/exxonguyana published Monday, London-based anti-corruption group Global Witness said the U.S. oil major's 40-year deal to produce crude in the offshore Stabroek block would deprive the government of up to $55 billion in revenue over the life of the contract, compared with deals in other countries. The discovery of more than 8 billion barrels of oil and gas offshore Guyana by an Exxon-led consortium, which includes Hess Corp and China's CNOOC, will transform the economy of the poor South American country.
Exxon Mobil's oil contract with Guyana would be exempt from a review of the South American nation's deals if the opposition wins the March 2 election, the party's top candidate said. While his People's Progressive Party (PPP) has criticized President David Granger's 2016 deal with Exxon as too generous, Irfaan Ali called the company - whose 1 million barrel cargo of Guyana's first-ever crude production set sail on Monday - a "pioneer" in an interview over the weekend. The PPP's platform pledged to "immediately engage the oil and gas companies in better contract administration/re-negotiation." Other companies exploring off Guyana's coast include Britain's Tullow Oil, Spain's Repsol SA and France's Total.
Exxon Mobil Corp. and partners Hess Corp. and CNOOC Limited reported over the weekend that the Liza field in the Stabroek Block offshore Guyana has achieved first oil.
CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that Liza field offshore Guyana has safely commenced production ahead of schedule.
Concerns over rising interest rates and expected further rate increases have hit several stocks hard during the fourth quarter of 2018. Trends reversed 180 degrees in 2019 amid Powell's pivot and optimistic expectations towards a trade deal with China. Hedge funds and institutional investors tracked by Insider Monkey usually invest a disproportionate amount of their […]
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll show...
CNOOC Limited Announces Caofeidian 11-1/11-6 Oilfield Comprehensive Adjustment Project Commences Production