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2017-01-20 18:50:00

CHINA'S CNOOC INVESTMENT UP TO 39%

CHINA'S CNOOC INVESTMENT UP TO 39%

FT - China's Cnooc on Thursday set out plans to raise capital spending by up to 39 per cent this year despite an anticipated fall in oil and gas production, as firming oil prices allow it to bring new projects on steam.

The annual forecast by Cnooc's listed unit serves as the first indication of output and investment plans by China's state-controlled oil producers, which also include China National Petroleum Corp or PetroChina and Sinopec. Cnooc's listed arm does not represent all of the output by its state-controlled parent company, but remains a good…

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Tags: CHINA, CNOOC, INVESTMENT, OIL, PRICES

Chronicle:

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