Chang Jiang Shang Bao·2025-11-09 23:27Core Viewpoint - China National Offshore Oil Corporation (CNOOC) has achieved a record high of over $13 billion in contracts during the 8th China International Import Expo, showcasing its strong global partnerships and commitment to optimizing its procurement structure [2][3]. Group 1: Contract Achievements - CNOOC signed contracts exceeding $13 billion at the 8th China International Import Expo, marking the highest signing amount in the company's history for a single expo [2][3]. - The contracts cover a wide range of products, including crude oil, natural gas, deepwater oil and gas equipment, and advanced technology services, indicating a shift towards integrated cooperation in energy, technology, and equipment [3][5]. Group 2: Financial Performance - For the first three quarters of 2025, CNOOC reported a net profit attributable to shareholders of 101.97 billion yuan, with oil and gas net production increasing by 6.7% year-on-year [5][6]. - The company achieved operating revenue of 312.5 billion yuan, with oil and gas sales revenue reaching 255.48 billion yuan, outperforming the Brent oil price, which fell by 14.56% during the same period [5][6]. Group 3: Production and Exploration - CNOOC's oil and gas net production reached 57.83 million barrels of oil equivalent, with natural gas business growth at 11.6%, highlighting its strategic value as a second growth curve [5][6]. - The company made five new discoveries and successfully evaluated 22 oil and gas structures in the first three quarters, with significant contributions from key oil and gas fields [6][7]. Group 4: Cost Management and Investment - CNOOC maintained a leading cost control level with a major cost of $27.35 per barrel, reflecting effective project management and technological innovation [6][7]. - Capital expenditure was approximately 86 billion yuan, indicating improved investment efficiency and operational precision [6][7]. Group 5: Green Transition and Shareholder Returns - CNOOC is accelerating its transition to green and low-carbon energy, initiating offshore wind power projects and advancing carbon capture, utilization, and storage (CCUS) technology [7]. - The company plans to distribute a cash dividend of 0.73 HKD per share for the mid-2025 period, maintaining a high payout ratio of 45.5% [7].