Sou Hu Cai Jing·2025-10-30 12:36Core Insights - China National Offshore Oil Corporation (CNOOC) reported a decline in revenue and net profit for the first three quarters of 2025, with total revenue of RMB 3,125.03 billion, down 4.1% year-on-year, and net profit attributable to shareholders of RMB 1,019.71 billion, down 12.6% [1][2]. Financial Performance - In Q3 2025, CNOOC achieved revenue of RMB 1,048.95 billion, an increase of 5.7% year-on-year, while net profit attributable to shareholders was RMB 324.38 billion, a decrease of 12.2% [1][2]. - For the first three quarters, oil and gas sales revenue was approximately RMB 2,554.8 billion, reflecting a decline of 5.9% due to falling oil prices [3]. Pricing and Costs - The average realized oil price for the first three quarters was USD 68.29 per barrel, down 13.6% year-on-year, while the average realized gas price was USD 7.86 per thousand cubic feet, up 1.0% [3]. - The main cost per barrel of oil was USD 27.35, showing a decrease of 2.8% year-on-year, indicating effective cost control measures [3]. Capital Expenditure - CNOOC's capital expenditure for the first three quarters was approximately RMB 860 billion, a reduction of 9.8% compared to the previous year, primarily due to a decrease in the workload of ongoing projects [3].