China Oil Mining Exploration Reported Earned Increase 35.2 pct

China National Offshore Oil Corp (CNOOC) — the parent of Hong Kong-listed CNOOC Ltd — said it posted a net profit of 18.95 bln yuan in the first half of the year, up 35.2 pct from a year earlier, on the back of higher crude oil prices.

CNOOC, the country’s top offshore oil and gas producer, realized oil and gas output of 20.7 mln tons of oil equivalent in the first half, up 2.4 pct year-on-year, the company said in a statement.

Revenue rose 48 pct to 106.3 bln yuan, while costs were up 52.9 pct, it said.The state-run firm paid 30.3 bln yuan in taxes to the central government in the first half, up 73 pct compared with a year earlier, the company said.



CNOOC’s assets totaled 383.8 bln yuan at the end of June, an increase of 10.8 pct from a year earlier.

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