Skip to main content

Market Overview

Cnooc H1 Net Profit Down 19%

Share:

Cnooc Ltd (NYSE: CEO) reported a 19% drop in its first-half net profit.

Cnooc's net profit for the period declined to 31.87 billion yuan (US$5.1 billion), versus CNY39.34 billion, in the year-ago period. However, analysts were expecting a profit of CNY35.92 billion.

Its revenue dropped 5% to CNY118.27 billion, versus CNY124.57 billion. Its net crude-oil and gas output declined 4.6% to 160.9 million barrels of oil equivalent.

Cnooc also proposed a dividend of HK$0.15 for the first half, versus HK$0.25.

Cnooc shares gained 0.60% to close at $201.02 yesterday.

 

Related Articles (CEO)

View Comments and Join the Discussion!

Posted-In: profitEarnings News Dividends

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com