CNOOC net profit grew by 42% in 2008. to a record $6.4 billion
March 31, 2009 – 11:36 pmnet profit of one of the largest Chinese oil and gas company CNOOC Ltd. in 2008. increased by 42% to a record 44.4 billion yuan ($6.4 billion) due to higher oil prices. This was reported in the press releases.
In the II half of 2008. company’s net profit amounted to 16.9 billion yuan ($2.34 billion) compared with 16.71 billion yuan ($2.44 billion) during the same period of 2007. with analysts’ forecasts of 17.42 billion yuan ($2.48 billion).
With regard to the current year, analysts and the company forecast a drop in profits due to declining world oil prices.
CNOOC is China’s third-largest oil and gas company after PetroChina and Sinopec Corp.
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