Chang Jiang Shang Bao·2025-08-28 23:50Core Viewpoint - China National Offshore Oil Corporation (CNOOC) achieved record high oil and gas net production in the first half of 2025 despite a decline in revenue and profit due to fluctuating international oil prices [1][2]. Group 1: Financial Performance - In the first half of 2025, CNOOC reported operating revenue of 207.608 billion yuan, a decrease of 8% year-on-year, and net profit of 69.533 billion yuan, down 13% year-on-year [1][2]. - The average Brent crude oil price fell by 15.1% year-on-year, impacting the company's financial results [2]. - Oil and gas sales revenue reached 171.7 billion yuan, with the main cost per barrel of oil equivalent remaining stable at 26.94 USD [2]. Group 2: Production Achievements - CNOOC's oil and gas net production reached 384.6 million barrels of oil equivalent, marking a 6% increase year-on-year and setting a historical record for the same period [1][2]. - Natural gas production was 14.64 billion cubic meters, reflecting a significant increase of 12% [1]. Group 3: Shareholder Returns - The board of CNOOC announced an interim dividend of 0.73 HKD per share (tax included), approximately 0.67 RMB, totaling around 31.602 billion RMB [1]. - The dividend payout ratio for the first half of 2025 was 45.5%, maintaining a high level compared to previous years [3]. Group 4: Strategic Initiatives - CNOOC is focusing on technological innovation and digital transformation, including advanced seismic data collection and processing technologies [3]. - The company has implemented AI-driven initiatives, with the "Deep Sea No. 1" smart gas field recognized as one of China's first excellent smart factories [3]. Group 5: Market Confidence - CNOOC's controlling shareholder announced a plan to increase holdings in the company's A-shares and H-shares, with a proposed investment of no less than 2 billion yuan and no more than 4 billion yuan [4].