CNOOC Ltd announces capex cuts of up to 35%

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04 February 2015

CNOOC Ltd announces capex cuts of up to 35%

Report summary

CNOOC Ltd has announced bigger than expected capex cuts of up to 35% for 2015 with spend in China facing the largest decrease, sending a positive signal to investors that the company is taking a disciplined approach to investment. The company has also indicated slowing production growth from 2015-2017.

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