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2018-02-02 12:15:00

CHINA'S OIL INVESTMENT UP

CHINA'S OIL INVESTMENT UP

BLOOMBERGCnooc Ltd. plans to raise capital spending to the highest since 2014 and revised upward its oil and gas output targets as China's biggest offshore producer recovers from crude's crash.

The Beijing-based explorer sees capital expenditures at 70 billion to 80 billion yuan ($11.1 billion to $12.7 billion) for 2018, it said in a statement to the Hong Kong stock exchange Thursday. That's an increase of as much as 60 percent from the previous year, which came in…

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Tags: CHINA, CNOOC, OIL, GAS, INVESTMENT
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