cnooc 2012 net profit fell 93
Last Updated : GMT 16:22:18
Arab Today, arab today
Arab Today, arab today

CNOOC 2012 net profit fell 9.3%

Arab Today, arab today

Arab Today, arab today CNOOC 2012 net profit fell 9.3%

Hong Kong - AFP

Chinese oil giant CNOOC on Friday reported that 2012 net profit fell 9.3 percent, blaming higher operating costs -- including exploration -- and the poor global economy. The state-owned energy company said net profit for last year was 63.69 billion yuan ($10.25 billion), down from 70.26 billion yuan in 2011. Revenue rose 2.8 percent to 247.63 billion yuan from 240.94 billion yuan the previous year. The Beijing-based company attributed the fall in profits to the increased cost of searching for new wells and operating existing ones. Operating expenses increased by 17.4 percent to 21.45 billion yuan, while exploration costs increased by 73.3 percent, the company said in a filing to the Hong Kong stock exchange, where it is listed. CNOOC said it saw a net production 342.4 million barrels of oil equivalent, a 3.2 percent year-on-year increase, largely due to greater production from North American shale oil and gas projects and oil sands project in Canada. In 2011 CNOOC took over Canadian oil sands developer OPTI for around $2.1 billion. \"During the year, faced by complex external conditions, the company overcame various unfavourable factors, seized opportunity to lay a solid foundation for development,\" CNOOC said. Last month the oil company completed a $15.1 billion purchase of Canada\'s Nexen energy company, a move data analyst Dealogic described as China\'s largest foreign investment. The company said Friday that the acquisition \"laid down resources base for the company\'s long-term development and built a new overseas platform for the company\". China is the biggest energy consumer in the world, the second-biggest consumer of oil and has been snapping up resource assets across the globe in order to fuel growth.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

cnooc 2012 net profit fell 93 cnooc 2012 net profit fell 93

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

cnooc 2012 net profit fell 93 cnooc 2012 net profit fell 93

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday