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CNOOC: Oil Prices Uncontrollable but Costs Manageable; Domestic Crude Output Aiming for 65-70M Tons
CNOOC (00883.HK) Vice Chairman, CEO, and President Huang Yongzhang stated at the results briefing that the company will keep intensifying exploration and development, setting aggre...
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CNOOC: Oil Prices Uncontrollable but Costs Manageable; Domestic Crude Output Aiming for 65-70M Tons
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CNOOC (00883.HK)  +0.060 (+0.223%)    Short selling $602.03M; Ratio 28.522%   Vice Chairman, CEO, and President Huang Yongzhang stated at the results briefing that the company will keep intensifying exploration and development, setting aggressive production targets, and making reasonable, precise, and efficient investments.

While oil prices cannot be controlled, costs can be managed, and the company will wield its certainty to address market volatility, Huang said.

Related News BOCI Upgrades CNOOC (00883.HK) Rating to 'Buy', Raises TP to HKD18.76
Senior Vice President Yan Hongtao mentioned that the company's domestic crude oil production is now at 61 million tons, with a future target of reaching 65-70 million tons.

As for natural gas production, it is also on an uptrend over the next five years. With at least two large gas fields being developed and brought into production, it is estimated that natural gas production could increase from over 30 billion cubic meters to 40 billion cubic meters.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-02 16:25.)



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This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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