Cnooc’s Profit Drops as Low Oil Prices Counter Output Growth

Chinese oil major Cnooc Ltd. reported weaker earnings in 2025, as a drop in oil prices blunted the impact of the company’s rising production.

Net income came in at 122.1 billion yuan ($17.7 billion), down from 137.9 billion yuan a year earlier, Cnooc said in an exchange filing on Thursday. That compares with the 130.7 billion yuan average of analyst estimates in a Bloomberg survey.