CNOOC Ltd. (CEO) Profit Up, But Warns For The Year
CNOOC Ltd., China's largest offshore oil producer by output, Tuesday said its third-quarter revenue jumped 25 percent on surging crude prices, but the company warned that meeting its full-year output target would be challenging.
Storms have damaged some of CNOOC's offshore oil fields in southern China, including one in Liuhua that was wrecked by a typhoon in May and would remain closed until next June, said Yang Hua, the firm's chief financial officer.
"Bad weather and typhoons impose very big pressure on us" in meeting output targets, Yang said in a media teleconference. "Those are the things we can't control."
Storms have damaged some of CNOOC's offshore oil fields in southern China, including one in Liuhua that was wrecked by a typhoon in May and would remain closed until next June, said Yang Hua, the firm's chief financial officer.
"Bad weather and typhoons impose very big pressure on us" in meeting output targets, Yang said in a media teleconference. "Those are the things we can't control."
posted by Stock Administrator @ 5:29 PM
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