CNOOC(SH:600938) Zheng Quan Ri Bao Wang·2025-03-27 13:43Core Viewpoint - China National Offshore Oil Corporation (CNOOC) reported a revenue of 355.6 billion yuan for 2024, an 8.5% increase year-on-year, despite a 2.9% decline in average Brent crude oil prices [1] - The company aims to maintain its competitive edge through a low-cost development strategy and efficient management practices [1][2] Financial Performance - CNOOC's net profit attributable to shareholders reached 137.9 billion yuan, reflecting an 11.4% year-on-year growth [1] - The board proposed a final dividend of 0.66 HKD per share, with an expected total annual dividend of 1.40 HKD per share, a 12% increase from the previous year, resulting in a payout ratio of 44.7% [1][2] Production and Growth Strategy - The company achieved a net oil and gas production of 726.8 million barrels of oil equivalent, a 7.2% increase year-on-year, with domestic production rising by 5.6% and overseas production increasing by 10.8% [2] - CNOOC has set production targets of 760 to 780 million barrels for 2025, and 780 to 830 million barrels for 2026 and 2027 [2] Commitment to Energy Security - CNOOC emphasizes its role in ensuring national energy security, with over 70% of China's crude oil being imported [3] - The company is focused on optimizing high-value exploration and development projects both domestically and internationally [3] Technological Advancements - CNOOC has made significant progress in deep-sea technology, including the development of deep-sea seismic acquisition systems and drilling technologies [3] - The company is also exploring renewable energy opportunities in deep-sea environments, such as floating offshore wind facilities [3] Future Outlook - CNOOC plans to drive production growth through technological innovation and maintain a stable dividend policy to reward shareholders [3]