Hong Kong · Delayed Price · Currency is HKD CNOOC Earnings Call Transcripts
Fiscal Year 2025
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Delivered strong production growth and robust financials despite lower oil prices, with net profit of RMB 69.5 billion and a 45.5% dividend payout ratio. Continued investment in reserves, production, and green energy, while maintaining low costs and a healthy balance sheet.
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.