CNOOC Ltd

00883: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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CNOOC Earnings: Effective Cost Control and Rising Production Offset Lower Oil Prices

Chokwai Lee

Mar 28, 2025

CNOOC's 2024 net profit rose 11% year on year to CNY 137.9 billion. This was driven by a 7% increase in net production and a 1% drop in all-in cost, which offset a 2% decline in the average realized oil selling price and a 3% fall in the average realized gas selling price.

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CNOOC Ltd

CNOOC Earnings: Effective Cost Control and Rising Production Offset Lower Oil Prices

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