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cnooc ltd (883) Snapshot

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cnooc ltd (883) Details

CNOOC Limited, an investment holding company, engages in the exploration, development, production, and sale of crude oil, natural gas, and other petroleum products. The company produces offshore crude oil and natural gas primarily in Bohai, Western South China Sea, Eastern South China Sea, and East China Sea in offshore China. It also has oil and gas assets in Asia, Africa, North America, South America, Oceania, and Europe. As of December 31, 2014, the company owned net proved reserves of approximately 4.48 billion barrels-of-oil equivalent. It also provides bond issuance services. The company was incorporated in 1999 and is based in Hong Kong, Hong Kong. CNOOC Limited is considered a Red Chip company due to its listing on the Hong Kong Stock Exchange. CNOOC Limited is a subsidiary of China National Offshore Oil Corporation.

19,681 Employees
Last Reported Date: 04/8/15
Founded in 1999

cnooc ltd (883) Top Compensated Officers

No compensation data is available at this time for the top officers at this company.

Executives, Board Directors

cnooc ltd (883) Key Developments

CNOOC Ltd., 2014 Earnings Call, Mar 27, 2015

CNOOC Ltd., 2014 Earnings Call, Mar 27, 2015

CNOOC Provides Capital Expenditure Guidance for the Year 2015

CNOOC provided capital expenditure guidance for the year 2015. For the period, the company has cut its projections for capital spending by 26% to 35% from the prior year.

CNOOC Ltd. Announces Consolidated Earnings and Operating Results for the Year Ended December 31, 2014

CNOOC Ltd. announced consolidated earnings and operating results for the year ended December 31, 2014. For the year, total revenue was RMB 274,634 million against RMB 285,857 million a year ago. Profit from operating activities was RMB 80,915 million against RMB 78,503 million a year ago. Profit before tax was RMB 82,513 million against RMB 80,851 million a year ago. Profit for the year attributable to owners of the parent was RMB 60,199 million or RMB 1.35 per basic and diluted share against RMB 56,461 million or RMB 1.26 per basic and diluted share a year ago. In 2014, the cash inflow from operating activities was RMB 110,508 million ($17,985.2 million), in line with the previous year. In 2014, its capital expenditure (excluding acquisition) increased 20.0% to RMB 95,673 million ($15,570.8 million) from 2013, primarily as a result of the increase in exploration activities and the development of projects under construction. Development expenditures in 2014 were primarily related to the capital expenditures of Nexen, the development of the OML130 project, as well as the expenses incurred for improving recovery factors of the oilfields in production. The Company has no significant acquisition during the year. Consolidated net profit increased 6.6% in 2014, primarily as a result of the more strengthened cost control under the recent decreased oil price environment. For the year, net production was 432.5 million BOE (including interest in equity-accounted investees), representing an increase of 5.1% from 411.7 million BOE in 2013, benefitting from the additional production from the Nexen acquisition in the end of February 2013 and the commencement of production on oil and gas fields in offshore China. The overseas production volume accounted for 37.8% of total net production volume in 2014, compared with 36.2% in 2013. The decrease of crude and liquids sales was primarily due to the lower realised oil prices in 2014. The increase of gas sales primarily came from the higher prices for sales in domestic China and in East Asian LNG market.


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Valuation 883 Industry Range
Price/Earnings 7.7x
Price/Sales 1.7x
Price/Book 1.2x
Price/Cash Flow 3.7x
TEV/Sales 0.8x

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