CNOOC Limited released its unaudited financial results for the third quarter of 2025, prepared under Chinese Accounting Standards. Quarterly revenue increased by 5.7% year-on-year to RMB104,895 million. Net profit attributable to equity shareholders for the same period was RMB32,438 million, declining 12.2%. From January to September 2025, revenue reached RMB312,503 million, while net profit attributable to equity shareholders stood at RMB101,971 million, dropping 12.6% compared to the same period last year.

During the first three quarters, net oil and gas production was 578.3 million barrels of oil equivalent (BOE), up 6.7% year-on-year, with natural gas output posting an 11.6% increase. Production in China rose by 8.6% to 400.8 million BOE, buoyed by contributions from major projects such as Shenhai-1 Phase II and Bozhong 19-2. Overseas production reached 177.4 million BOE, an increase of 2.6%, reflecting contributions from projects such as Mero3 in Brazil.

Over the nine-month period, CNOOC Limited’s average realized oil price edged down by 13.6% year-on-year to US$68.29 per barrel, while its average realized gas price rose by 1.0% to US$7.86 per thousand cubic feet. The company reported total capital expenditures of RMB86,034 million, 9.8% lower than the same period last year, largely attributed to reduced workloads in ongoing projects.

Fourteen new projects commenced production in the first three quarters, including the Kenli 10-2 Oilfields Development Project (Phase I) and the Yellowtail Project in Guyana. The company recorded stable progress concerning health, safety, and environmental measures throughout the reporting period.