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CNOOC 2008 sales revenue up 22.4%

By Wan Zhihong (chinadaily.com.cn)
Updated: 2009-01-21 15:43

China National Offshore Oil Corp (CNOOC), the country's third largest oil and gas producer, said today full year sales revenue rose 22.4 percent from a year ago to 98.3 billion yuan ($14.37 billion).

By the end of 2008, total assets of the company were 428.5 billion yuan, up 267 percent from five years earlier.

The company's listed arm CNOOC Ltd said on Jan 20 it plans to lift its 2009 crude and gas production by 16 percent to 18 percent, as some significant projects are expected to come online this year.

In 2009, the total capital expenditure of CNOOC Ltd is expected to reach $6.76 billion, an increase of 19 percent year-on-year.