Company report

CNOOC corporate - reported results analysis

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Report summary

There were no surprise announcements in CNOOC Ltd's Q4 2017 results, as the company already disclosed the main details in its 2018 Strategy Preview (see below). Similar to its Chinese NOC peers, CNOOC Ltd announced improved financial results and production came in above guidance. Net earnings improved drastically from last year as a result of higher oil and gas prices, despite a RMB 9.1 billion (US$1.45 billion) impairment charge. Operating cash flow was also higher, but a 4% increase in operating costs was a surprise. The company remains committed to its 40-60% capital budget increase for 2018 as management feels more positive about the external environment.

What's included

This report contains

  • Document

    CNOOC corporate - reported results analysis

    PDF 363.94 KB

Table of contents

  • Other CNOOC research
    • Our takeaways
    • Key figures:
    • Overview
    • Investment
    • Operational Guidance
    • Our takeaways
    • Our takeaways
    • Our takeaways
    • Overview
    • Strategy / Investment
    • Operational performance
    • Financial performance
    • Exploration
    • M&A
    • Overview
    • Investment
    • Operational Guidance
    • Investment/Strategy
    • Operational Performance
    • Financial Performance
    • Exploration
    • Overview
    • Strategy/Investment
    • Operational performance
    • Financial performance
    • Exploration
    • Overview
    • Investment / Strategy
    • Operational Performance
    • Financial Performance
    • Exploration
    • Overview
    • Strategy/Investment
    • Operational performance
    • Financial performance
    • Exploration
    • Overview
    • Investment
    • Operational Guidance
    • Overview
    • Investment/Strategy
    • Operational Performance
    • Financial Performance
    • Exploration
    • Overview
    • Strategy/Investment
    • Operational performance
    • Financial performance
    • Exploration
    • Overview
    • Investment / Strategy
    • Operational Performance
    • Financial Performance
    • Exploration
    • Overview
    • Strategy/Investment
    • Operational performance
    • Financial performance
    • Exploration
    • Overview
    • Investment
    • Operational Guidance
    • Overview
    • Investment/Strategy
    • Operational performance
    • Financial performance
    • Exploration
    • Overview
    • Investment/Strategy
    • Operational performance
    • Financial performance
    • Exploration
    • Overview
    • Investment / Strategy
    • Operational Performance
    • Financial Performance
    • Exploration
    • Overview
    • Strategy/Investment
    • Operational Performance
    • Financial Performance
    • M&A/business development
    • Exploration
    • Overview
    • Investment/Strategy
    • Operational performance
    • Financial performance
    • Exploration
    • Overview
    • Investment/Strategy
    • Operational performance
    • Financial performance
    • Exploration
    • Overview
    • Investment/Strategy
    • Operational performance
    • Financial performance
    • M&A
    • Exploration

Tables and charts

This report includes 2 images and tables including:

Images

  • CNOOC Ltd: evolution of quarterly net income
  • CNOOC Ltd: evolution of quarterly production

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