CNOOC’s Q1 earnings beat expectations driven by higher-than-expected production, target price raised by 9%. to HK$24 – CICC
CNOOC’s Q1 earnings beat expectations driven by higher-than-expected production, target price raised by 9%. to HK$24 – CICC

CNOOC’s Q1 earnings beat expectations driven by higher-than-expected production, target price raised by 9%. to HK$24 – CICC

 

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Chinese state-owned energy giant CNOOC's first-quarter revenue grew 14% year over year, while net profit rose 23.7%, with higher-than-expected production driving quarterly performance to beat the market's expectation, CICC said in a research note.

CNOOC's production reached 180 million barrels of oil equivalent (BOE) in the quarter, rising 9.9% year over year, with production from China rising by 6.9% to 123 million BOE, mainly due . . .

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