BUZZ-China's CNOOC climbs after Weizhou 5-3 Oilfield commences production

Reuters
06-09
BUZZ-China's CNOOC climbs after Weizhou 5-3 Oilfield commences production

** Hong Kong shares of CNOOC 0883.HK climb 2% to HK$18.64, highest since April 3

** Stock set for biggest one-day pct rise since May 12

** Shanghai-listed stock 600938.SS adds 0.9% to 26.43 yuan, highest since April 2

** Sino Geophysical 300191.SZ says the co and CNOOC jointly-cooperated Weizhou 5-3 Oilfield Development Project has commenced production on June 6

** CNOOC says project expected to achieve a plateau production of about 10,000 barrels of oil equivalent per day in 2026

** Says CNOOC holds 51% interest in the project and Sino Geophysical's unit Smart Oil Investment owns 49%

** Sino Geophysical stock jumps 16.8% to 20.76 yuan, highest since March 24

** In China, blue-chip CSI 300 Index .CSI300 and Shanghai Composite Index .SSEC both climb 0.3%

** In Hong Kong, Hang Seng Mainland Oil & Gas Index .HSMOGI slips 0.1%, Hang Seng Index .HSI rises 1.3%

** YTD, CNOOC Hong Kong stock down 2.6%, Shanghai shares down 10.6%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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