China Petroleum & Chemical Corp Class A

600028: XSHG (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CNY 6.70	Xwh	Ytclbrnf

CNOOC Guides Strong First-Half 2022 Earnings; Positive Read Across for Peers’ Upstream Segments

Chokwai Lee

Jul 15, 2022

CNOOC guided that first-half 2022 earnings will increase significantly by 112% to 118% year on year to CNY 70.5 billion to CNY 72.5 billion, mainly attributable to stronger oil prices, robust production growth, and efficient cost control. We think this has been largely expected by the market.

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