www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Companies

CNOOC will post $1.2b H1 loss due to oil price slump

By Lyu Chang and Jing Shuiyu (China Daily) Updated: 2016-07-30 09:46

CNOOC will post $1.2b H1 loss due to oil price slump

Employees of China National Offshore Oil Corporation work on its deepwater drilling platform in South China Sea. [Photo provided to China Daily]

China National Offshore Oil Corporation, the country's largest offshore oil and gas producer, warned that it will have its first half-year loss of 8 billion yuan ($1.2 billion) since becoming a listed company, due to a prolonged slump of oil prices and a write-down on its Canadian oil sands assets.

The offshore oil giant expects a loss for the first half-a big swing from a net profit of 14.7 billion yuan in the same period in 2015, according to a filing to the Hong Kong Stock Exchange on Thursday.

Shares of CNOOC in Hong Kong fell 0.28 percent to close at HK$9.28 ($1.19) on Friday. That was less than the benchmark Hang Seng Index's drop of 1.52 percent.

The Beijing-based company attributed the loss to the downward trend of crude prices, coupled with impairments and a write-down on oil sand projects, including those it acquired from the Canadian producer Nexen Inc in 2012.

"The cost of oil sand projects is so high that they were hit hard amid falling oil prices," said Han Xiaoping, chief information officer at China Energy Net Consulting Co, an industry consultancy in Beijing.

"Instead of huge investment in oil sands projects, I think CNOOC should have started putting more focus on clean energy like offshore wind power a few years ago," he said. "The company almost gave up the business in new energy, but it would have come off better with offshore wind power, because few firms have that capability like CNOOC."

Brent crude, the global benchmark, averaged about $41 a barrel during the first half of the year, down roughly 30 percent from the same period in 2015.

Other listed companies of State-owned CNOOC also reported huge losses. China Oilfield Services Ltd is projected to have a large deficit of about 8.4 billion yuan in the first half, putting it on the top of the loss league table of the A-share market.

"Low oil prices have dragged the company into an extremely severe condition. What we are going to discuss today is a matter of whether we can survive in the future," CNOOC Chairman Yang Hua was quoted in an earlier report.

"The prediction of a rising dollar would also put pressure on the already-bad situation of the domestic oil market," said Ma Jianyu, an analyst with market information provider chem365.net, adding oil majors will further cut production and spending.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 亚洲欧美日本国产 | 97视频在线观看免费视频 | 亚洲人成网站观看在线播放 | аⅴ资源天堂8在线 | 和日本免费不卡在线v | 碰碰人人 | 国产美女一级特黄毛片 | 一区二区三区日本视频 | 伊人网五月天 | 欧美 在线 成 人怡红院 | 久久久久久久久久久96av | 亚洲黄色三级视频 | 午夜三级毛片 | 手机免费看a | 日本一级毛片免费播放 | 亚洲另类激情综合偷自拍 | 欧美日韩在线视频免费完整 | 怡红院在线观看在线视频 | 性做久久久久久久免费观看 | 麻豆视频一区 | 亚洲精品美女在线观看播放 | 天堂在线视频网站 | 国产综合精品久久久久成人影 | 91av综合| 久久久亚洲精品国产 | 亚洲精品久久久中文字 | 欧美手机视频 | 欧美一欧美一级毛片 | 久久香蕉国产精品一区二区三 | 国产亚洲国产bv网站在线 | ab毛片| 美女日韩在线观看视频 | 女人张开双腿让男人桶完整 | 精品久久九九 | 日韩一级片 韩国 | 久久九九久精品国产 | 中文字幕乱码中文乱码综合 | 免费成年网站 | 久久福利资源站免费观看i 久久高清精品 | 日本免费小视频 | 手机在线看片国产日韩生活片 |