Hong Kong · Delayed Price · Currency is HKD CNOOC Earnings Call Transcripts
Fiscal Year 2026
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First-three-quarter production reached a record 597 million BOE, up 2.7% YoY, while net income rose 16.8% to CNY 171.9 billion. Exploration, project startups and full-year guidance remained positive, with costs affected by currency, taxes and field-level production changes.
Fiscal Year 2025
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Record H1 production and disciplined costs helped limit the profit decline amid weaker oil prices. Interim dividend was HK$0.73/share; production growth and cost control remain priorities, while 2025 Brent forecasts cited were $65–$70/bbl.
Fiscal Year 2024
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Record-high production and reserves drove an 11.4% increase in net profit to RMB 137.9 billion, with strong cost control and a 12% dividend hike. Offshore and overseas projects, green energy, and digital transformation supported growth amid volatile markets and geopolitical risks.
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Record net profit and production were achieved in H1 2024, driven by major discoveries, cost control, and strong domestic and overseas growth. Interim dividend rose 25.4% year-over-year, with robust cash flow and a low gearing ratio.