CNOOC(00883)2023-10-24 08:32Financial Performance - Operating revenue for Q3 2023 was RMB 114,753 million, an increase of 5.48% compared to the same period last year[2] - Net profit attributable to shareholders of the parent company was RMB 33,884 million, a decrease of 8.13% year-on-year[2] - Cash flow from operating activities for the year-to-date was RMB 159,045 million, down 4.70% compared to the previous year[2] - The company's net profit for the first three quarters of 2023 was 489,147 million RMB, up from 448,985 million RMB in the same period of 2022, representing a growth of about 8.9%[13] - Total operating revenue for the first three quarters of 2023 was RMB 306,817 million, a decrease of 1.06% compared to RMB 311,145 million in the same period of 2022[14] - Net profit attributable to shareholders of the parent company was RMB 97,645 million, down 10.05% from RMB 108,768 million in the previous year[15] - The company reported a total comprehensive income of RMB 103,720 million, down from RMB 131,379 million in the same period of 2022[16] - Basic and diluted earnings per share were both RMB 2.05, a decrease from RMB 2.34 in the previous year[16] Assets and Liabilities - Total assets at the end of the reporting period reached RMB 1,020,025 million, reflecting a 9.79% increase from the previous year[2] - As of September 30, 2023, total assets amounted to 1,020,025 million RMB, up from 929,031 million RMB at the end of 2022, reflecting a growth of approximately 9.8%[12] - The total liabilities as of September 30, 2023, were 375,395 million RMB, compared to 330,648 million RMB at the end of 2022, which is an increase of approximately 13.5%[13] - The total equity attributable to shareholders increased to 643,415 million RMB as of September 30, 2023, compared to 597,182 million RMB at the end of 2022, indicating a growth of approximately 7.7%[13] Production and Sales - In the first three quarters of 2023, the company's net production reached 499.7 million barrels of oil equivalent, an increase of 8.3% year-on-year, marking a historical high for the same period[8] - The company's oil and gas sales revenue for the first three quarters was approximately RMB 238.4 billion, a decrease of 10.3% year-on-year, primarily due to the decline in international oil prices[8] - Oil and gas sales revenue for Q3 2023 was RMB 86,710 million, a decrease of 2.8% year-on-year[5] - The average realized oil price for the company was 7.92 per thousand cubic feet, a decrease of 2.7% year-on-year, mainly due to the decline in overseas natural gas prices[8] Capital Expenditures and Investments - Capital expenditures for Q3 2023 totaled RMB 32,947 million, representing a 21.5% increase compared to Q3 2022[5] - Capital expenditures for the first three quarters were approximately RMB 89.46 billion, an increase of 30.2% year-on-year, due to increased workload on ongoing projects[9] - The company has adjusted its annual capital expenditure budget to RMB 120-130 billion to support reserve and production growth[9] - Cash flow from investment activities resulted in a net outflow of RMB 54,283 million, an improvement from a net outflow of RMB 75,913 million in the previous year[18] - Investment income increased to RMB 6,858 million, compared to RMB 4,204 million in the previous year[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 122,601[6] - The largest shareholder, China National Offshore Oil Corporation (BVI), held 60.49% of the shares[6] Cost Management - The company's main oil cost per barrel was $28.37, a decrease of 6.3% year-on-year, indicating effective cost control[8] - Total operating costs increased to RMB 177,799 million, up 7.83% from RMB 165,308 million year-on-year[14] - The company’s financial expenses decreased significantly to RMB 744 million from RMB 2,172 million in the previous year, primarily due to lower interest expenses[14] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to enhance production efficiency and sustainability[10]