Half Year 2025 CNOOC Ltd Earnings Call Transcript

Aug 28, 2025 / 09:00 AM GMT

Release Date Price: ¥25.77 (+1.18%)

Transcript

Key Points

Positve

CNOOC Ltd (SHSE:600938) achieved significant results in reserve expansion and production growth, with net oil and gas production reaching 384.6 million BOEs, up 6.1% year on year.
The company made 5 new discoveries and successfully appraised 18 oil and gas structures, solidifying its resource base.
CNOOC Ltd (SHSE:600938) successfully brought 10 new projects into production, with engineering construction on schedule.
Natural gas production rose by 12%, contributing to the company's overall production increase.
The company maintained a stable all-in cost of $26.94 USD per BOE, demonstrating effective cost control.

Negative

Net profit attributable to shareholders decreased by 12.8% year on year, primarily due to a 15.1% decline in crude oil prices.
Investment loss was reported due to the performance of a joint venture in Argentina, impacting overall financial results.
Despite efforts, the company's profitability remains sensitive to fluctuations in international oil prices.
The company faces challenges in accurately forecasting oil prices due to numerous influencing factors, including geopolitical tensions.
CNOOC Ltd (SHSE:600938) acknowledges that the development cycle for natural gas is longer and less economically beneficial compared to oil.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

600938.SS - CNOOC Ltd
Half Year 2025 CNOOC Ltd Earnings Call
Aug 28, 2025 / 09:00AM GMT

=====================
Conference Call Participants
=====================
* Editor

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Good Afternoon everyone. Welcome to COC Limited's 2025 interim results announcement. Let me introduce to you our management in attendance.

COC Limited President, Mr. Yan Hong Tao.

CFO Ms. Wu Xiaoping.

Independent non-executive director, Mr. Lin Boo Tian.

And joint secretary, Mr. Xu Yu Gao.

This meeting is divided into three parts. First, President Mr. Yan Hongtao will make opening remarks. After that, CFO Ms. Wu Xue Ping will reveal the company's 2025 1st half operations and financial performance, and then there will be a Q&A session with consecutive interpretation. I will pass the floor to

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.