According to the Third Quarterly Report of 2025 released by CNOOC Limited (Stock Codes: 00883 HKD counter, 80883 RMB counter), the company achieved unaudited revenue of RMB 104.895 billion in the third quarter, representing a year-on-year increase of 5.7%. Net profit attributable to equity shareholders stood at RMB 32.438 billion, down 12.2% compared to the same period last year. From the beginning of the year to the end of the third quarter, total revenue was RMB 312.503 billion, with net profit attributable to equity shareholders amounting to RMB 101.971 billion, representing a 12.6% decrease year-on-year.

During the first three quarters, the company’s net oil and gas production reached 578.3 million BOE, up 6.7% year-on-year, with domestic output rising 8.6% to 400.8 million BOE and overseas output fl at 2.6% to 177.4 million BOE. Average realized oil price was US$68.29 per barrel, down 13.6% year-on-year, while average realized gas price was US$7.86 per thousand cubic feet, a rise of 1.0% year-on-year. In the same period, total capital expenditures decreased 9.8% year-on-year to RMB 86.034 billion, reflecting lower project workloads.

CNOOC Limited highlighted the positive outcomes of 14 newly commenced projects in the first three quarters, including major contributions from Bozhong 19-2, the Mero3 project in Brazil, and the Yellowtail Project in Guyana. The proactive expansion in reserves also continued with five new discoveries and 22 successful structural appraisals, bolstering the company’s resource base and operational stability.

From January to September, net cash flows generated from operating activities reached RMB 171.749 billion, marking a 6.0% decrease year-on-year. Total assets at the end of September stood at RMB 1,126.474 billion, a 6.6% increase compared to the end of last year, while equity attributable to equity shareholders grew by 5.1% to RMB 785.561 billion over the same period.