China National Offshore Oil Corporation announced first quarter results, total revenue decreased 41.9 percent year-on-year to 13.95 billion yuan (RMB, same below), mainly due to the fall in oil prices caused by the impact of the sales price.
Group Executive Director Yang Hua said in a group debate call, though the consequence of monetary recession and natural gas demand, goods produced plunged to some extent in the first quarter, but its full-year 225,000,000 to 2.3 million barrels of oil same goods produced objective has not changed.
The first quarter of 41.56 U.S. dollars price to achieve
Day Group the first quarter of the total snare yield of 567,000 barrels of oil matching, an boost of 15% year-on-year, of which crude oil and petroleum fluids output expanded by 19.7% to 469,000 barrels per day. Natural gas output declined somewhat by about 4% to 560 million cubic feet per day.
As part of the sale, the Group running wages, crude oil and petroleum fluids profits plunged 45.6 out of 100 to 122 billion, as long as the realization of 41.56 U.S. dollars per barrel oil costs, down more than half of the matching interval last year. Gas profits diminished 3.8 out of 100 to 13.5 billion, as long as the realization of natural gas sales charge per 1000 cubic feet 3.89 U.S. dollars, advanced by 6.6% year-on-year.
Yang said that in addition to oil prices related to supply and demand, but also involved in the geo-political influence, the situation is complicated, therefore, it is not yet ready to comment on the movements of oil prices, but reiterated that "the stability of oil prices is the best." He also pointed out that although the market remains volatile, but Asia has advantages over other areas, "we should feel fortunate."
As considers the investigation and exploitation, the waters in China a total of seven freshly found out, and with partners after evaluation of five wells. BZ Group, Panyu and the Nigeria task has been put into procedure in March, while in Indonesia the task will be put into procedure inside the second quarter of this year.
Group Executive Director Yang Hua said in a group debate call, though the consequence of monetary recession and natural gas demand, goods produced plunged to some extent in the first quarter, but its full-year 225,000,000 to 2.3 million barrels of oil same goods produced objective has not changed.
The first quarter of 41.56 U.S. dollars price to achieve
Day Group the first quarter of the total snare yield of 567,000 barrels of oil matching, an boost of 15% year-on-year, of which crude oil and petroleum fluids output expanded by 19.7% to 469,000 barrels per day. Natural gas output declined somewhat by about 4% to 560 million cubic feet per day.
As part of the sale, the Group running wages, crude oil and petroleum fluids profits plunged 45.6 out of 100 to 122 billion, as long as the realization of 41.56 U.S. dollars per barrel oil costs, down more than half of the matching interval last year. Gas profits diminished 3.8 out of 100 to 13.5 billion, as long as the realization of natural gas sales charge per 1000 cubic feet 3.89 U.S. dollars, advanced by 6.6% year-on-year.
Yang said that in addition to oil prices related to supply and demand, but also involved in the geo-political influence, the situation is complicated, therefore, it is not yet ready to comment on the movements of oil prices, but reiterated that "the stability of oil prices is the best." He also pointed out that although the market remains volatile, but Asia has advantages over other areas, "we should feel fortunate."
As considers the investigation and exploitation, the waters in China a total of seven freshly found out, and with partners after evaluation of five wells. BZ Group, Panyu and the Nigeria task has been put into procedure in March, while in Indonesia the task will be put into procedure inside the second quarter of this year.
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