Higher oil prices drive Cnooc revenue to 48.3b yuan

Business | 22 Apr 2021 7:21 pm

Cnooc's (0883) oil and gas sales revenue jumped by 21 percent year-on-year to 48.34 billion yuan (HK$57.77 billion) for the first quarter of 2021, thanks to rising international oil prices and increased oil and gas sales.

During the quarter, the average realized oil price increased by 20.5 percent year-on-year to US$59.07 (HK$460.75) per barrel, the company said in an exchange filing.

The average realized gas price was US$6.71 per thousand cubic feet, an increase of 5.3 percent year-on-year, mainly due to higher gas prices in North America.

 



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