Cnooc Set to Gain From Exxon's Guyana Ramp-Up -- Market Talk

Dow Jones2024-12-17

Cnooc stands to benefit from Exxon Mobil's plans for more projects in Guyana, given its 25% stake in the South American nation's Stabroek Block. "Cnooc Set to Gain From Exxon's Guyana Ramp-Up -- Market Talk," at 0300 GMT, incorrectly said Guyana was in Africa.

(END) Dow Jones Newswires

December 16, 2024 22:51 ET (03:51 GMT)

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCnooc Set to Gain From Exxon's Guyana Ramp-Up -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-17 11:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cnooc stands to benefit from Exxon Mobil's plans for more projects in Guyana, given its 25% stake in the South American nation's Stabroek Block. \"Cnooc Set to Gain From Exxon's Guyana Ramp-Up -- ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0531971595.HKD","symbol_name":"HSBC GIF CHINESE EQUITY \"AD\" (HKD) INC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2492603607","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492603607","pubTimestamp":1734404400,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0300 GMT - Cnooc stands to benefit from Exxon Mobil's plans for more projects in Guyana, given its 25% stake in the African nation's Stabroek Block, Citi analysts Desmond Law and Oscar Yee write in a research note. They forecast Cnooc's attributable volume from Guyana to more than double by 2030, accounting for 12% of overall volume. They keep a buy rating with a HK$24.00 target price on the stock, based on a long-term oil assumption of $55 a barrel. Shares are 1.8% higher in Hong Kong trading at HK$18.14, lifting year-to-date gains to 37%. 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