CNOOC's Profit Rises 11% in 2024

MT Newswires Live03-27

CNOOC (HKG:0883, SHA:600938) recorded an 11% rise in attributable profit in 2024 to 137.9 billion yuan from 123.8 billion yuan a year prior, a Wednesday filing with the Hong Kong bourse said.

Earnings per share were 2.90 yuan in the year, up from 2.60 yuan in 2023.

The oil and gas company's revenue rose by 0.9% to 420.5 billion yuan in the period from 416.6 billion yuan a year prior, mainly due to the combined impact of a higher oil and gas sales volume and a lower international oil price.

The firm attributed the higher revenue mainly to an increase in reserves and production, a boost in quality and efficiency, and significant results in value creation.

The firm proposed a final dividend of HK$0.66 per share for the year.

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