Zhi Tong Cai Jing·2025-08-27 08:53Core Viewpoint - China National Offshore Oil Corporation (CNOOC) reported a decrease in revenue and net profit for the first half of 2025, highlighting challenges in the oil and gas sector while continuing to expand exploration efforts domestically and internationally [1] Financial Performance - Oil and gas sales revenue was approximately 171.7 billion yuan, a year-on-year decrease of 7% [1] - Total revenue was about 207.6 billion yuan, down 8.45% year-on-year [1] - Net profit attributable to shareholders was around 69.5 billion yuan, reflecting a 13% decline compared to the previous year [1] - Basic earnings per share were 1.46 yuan, with an interim dividend of 0.73 Hong Kong dollars per share [1] Exploration and Production - The company is actively pursuing reserve additions and production increases, achieving significant oil and gas exploration results [1] - New discoveries in Chinese waters include five oil and gas finds, such as the Jinzhou 27-6 [1] - Successful evaluation of medium to large oil and gas structures, including Qinhuangdao 29-6, has been completed [1] - Onshore unconventional natural gas reserves are steadily increasing [1] - CNOOC has signed its first oil contract in a new exploration block in Kazakhstan, expanding its overseas exploration potential [1] Production Metrics - In the first half of the year, the company's net production reached 384.6 million barrels of oil equivalent [1] - Natural gas production saw a significant increase of 12.0% [1] - Both domestic and international production levels exceeded historical highs for the same period [1]