China’s CNOOC to boost oil and gas output amid Middle East strife
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China National Offshore Oil Corporation (CNOOC), the country’s largest producer of offshore crude oil and natural gas, aims to further boost production this year amid geopolitical tensions and rising oil prices. The plan came after the state-backed company reported an 11.5 per cent drop in net profit to 122.08 billion yuan (US$17.7 billion) in 2025, owing to low oil prices during the year, even though it produced rec...
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China National Offshore Oil Corporation (CNOOC), the country’s largest producer of offshore crude oil and natural gas, aims to further boost production this year amid geopolitical tensions and rising oil prices. The plan...