CNOOC Ltd Class A

600938: XSHG (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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CNOOC Earnings: Higher Oil Prices and Production Drive Growth; H-Shares Remain Fairly Valued

Chokwai Lee

Apr 29, 2026

CNOOC’s first‑quarter net profit rose 7% year on year, driven by a 5% increase in average realized oil prices and 9% growth in net oil and gas production to 205.1 million barrels of oil equivalent, or boe.

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CNOOC Ltd Class A

CNOOC Earnings: Higher Oil Prices and Production Drive Growth; H-Shares Remain Fairly Valued

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