CNOOC (FRA:NC2B) Moat Score: 0/10 (As of Jul. 19, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:NC2B CNOOC Ltd FRA:NC2B
84 GF Score
Price €2.18
GF Value €1.90
! 1 Warning Sign
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What is CNOOC Moat Score?

CNOOC has the Moat Score of 0, which implies that the company might have No Moat - No discernible moat.

CNOOC has

Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more.

The company's Moat Score is based on these criteria:

1. Market leadership and sustainable market share
2. Network effects and significant customer switching costs
3. Valuable intellectual property and patents
4. Strong brand strength and deep customer loyalty
5. Durable cost advantages (e.g., economies of scale, proprietary technology)
6. Significant regulatory barriers and exclusive licenses
7. Superior distribution network
8. Strong and sustainable pricing power
9. Consistent and impactful innovation and R&D capabilities

Based on the research, GuruFocus believes CNOOC might have No Moat - No discernible moat.

CNOOC  (FRA:NC2B) Moat Score Explanation

The Moat Score ranges from 0 to 10, with 10 as the highest. GuruFocus divided Moat Score into following 8 categories:

Moat Score Moat Level
10Wide Moat - Exceptionally dominant and durable wide moat
8 - 9Wide Moat - Clear and robust wide moat
7Wide Moat - Entry-level wide moat, clearly possessing durable advantages
6Narrow Moat - Strong narrow moat, clearly distinguishable but not wide
5Narrow Moat - Solid narrow moat
4Narrow Moat - Discernible but modest moat
1 - 3No Moat - Very weak/transient advantages
0No Moat - No discernible moat

CNOOC Moat Score Related Terms

FRA:NC2B
84GF Score
CNOOC Ltd FRA:NC2B
Moat Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Is CNOOC (FRA:NC2B) Overvalued in 2026?

Based on GuruFocus' analysis, CNOOC stock appears to be overvalued. The current stock price of €2.18 is trading 14.7% above its estimated GF Value™ of €1.90.

Key valuation signals for FRA:NC2B:

  • Moat Score: 0
  • GF Value™: €1.90 vs. price of €2.18 (14.7% above fair value)
  • GF Score™: 84/100 with 1 warning sign

No single metric tells the full story. See the FRA:NC2B stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

CNOOC Business Description

Industry EnergyOil & Gas
Other Exchanges 00883:Hong Kong600938:China
Address 1 Garden Road, 65th Floor, Bank of China Tower, Hong Kong, HKG, 999077
CNOOC is China's main offshore oil and gas exploration and production company. Through its parent company, it has exclusive rights to partner with foreign companies in offshore China projects. Net production for 2025 reached 777.3 million barrels of oil equivalent (77.2% oil), and year-end proven reserves were 7.77 billion barrels of oil equivalent. Assets outside China make up around 30.9% of production.
84GF Score

Get the complete analysis for FRA:NC2B

Moat Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€2.18
Price
€1.90
GF Value