Cnooc Warns of $1.2 Billion Loss Amid Oil Sands WritedownBy
Company expects first loss since Hong Kong listing in 2000
Long Lake oil sands operation in Canada idled this month
Cnooc Ltd., China’s biggest offshore oil and gas producer, projected about $1.2 billion in first-half losses, flipping from a profit a year ago, as it took a charge on its Canadian oil sands assets. Shares fell in Hong Kong on Friday.
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