Beijing. 26 Oct. INTERFAX – CNOOC Ltd., the leader in the production of oil and natural gas offshore in China, increased third quarter revenues by 15.5% mainly due to the increase in fuel prices.
According to a press release from the company, net profit in July-September amounted to 37,25 billion yuan (us$5,61 billion) compared 32,26 billion yuan over the same period last year.
According to a press release from the company, the average realized oil price jumped 20.4% to $50,87 per barrel, natural gas – by 15.9%, to $6,05 per thousand cubic feet.
Meanwhile, the company reduced production in the last quarter by 1.3% to 116.2 million barrels of oil equivalent per day.
In January-September revenue grew by 29.5% and reached 116 billion yuan, while manufacturing declined by 1.4% to 354,1 million b.N. e./C.
Expenses for the nine months was 33.2 billion yuan, or about half the annual budget.
Shares of CNOOC at auction in Hong Kong on Thursday fell by 0.6%.