Ge Long Hui·2025-11-12 02:26Core Viewpoint - The stock of China National Offshore Oil Corporation (CNOOC) has reached a new high, reflecting strong market performance and significant net buying activity through the Hong Kong Stock Connect [1] Group 1: Stock Performance - CNOOC's stock rose approximately 3%, reaching HKD 23.08, marking a new listing high, with a cumulative increase of over 16% in the month [1] - The total market capitalization of CNOOC has reached HKD 1.09 trillion [1] Group 2: Trading Activity - On the previous day, the trading volume through the Hong Kong Stock Connect for CNOOC was HKD 12.73 billion, with a net buying amount of HKD 3.33 billion [1] - CNOOC has seen net buying for three consecutive days, with a total net buying amount of HKD 24.10 billion [1] Group 3: Cost Competitiveness - According to Guojin Securities, CNOOC has significantly reduced its oil and gas production costs in recent years, achieving a competitive advantage [1] - The average production cost for CNOOC in 2024 is projected to be USD 29.56 per barrel, which is lower than China National Petroleum Corporation (CNPC) at USD 33.08 per barrel and Sinopec at USD 38.41 per barrel [1] - CNOOC's production costs are comparable to major U.S. shale oil companies, indicating strong international competitiveness [1]