Cnooc's Oil Output Likely to Remain Robust Despite Lower Guidance -- Market Talk

Dow Jones

Jan 24, 2025

0637 GMT - Cnooc's oil production will likely remain robust despite its recently lowered output guidance, Chokwai Lee of Morningstar writes in a note. The recent cut in production targets for 2025-2026 was due to its disposal of the oil-and-gas business in the U.S. Gulf of Mexico, which mainly comprised nonoperating interests in projects, Lee writes. This will help Cnooc reduce political risks while maintaining competitive production costs, Lee adds. Given Cnooc's strong track record and project pipeline, it will likely be able to meet current production targets through 2027, which still reflect a robust growth rate, Lee says. Morningstar retains its fair value estimate of HK$23.00. Shares are 0.75% lower at HK$18.48. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

January 24, 2025 01:37 ET (06:37 GMT)

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The recent cut in production targets for 2025-2026 was due to its disposal of the oil-and-gas business in the U.S. Gulf of Mexico, which mainly comprised nonoperating interests in projects, Lee writes. This will help Cnooc reduce political risks while maintaining competitive production costs, Lee adds. Given Cnooc's strong track record and project pipeline, it will likely be able to meet current production targets through 2027, which still reflect a robust growth rate, Lee says. Morningstar retains its fair value estimate of HK$23.00. Shares are 0.75% lower at HK$18.48. (kimberley.kao@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 24, 2025 01:37 ET (06:37 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cnooc's Oil Output Likely to Remain Robust Despite Lower Guidance -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCnooc's Oil Output Likely to Remain Robust Despite Lower Guidance -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-01-24 14:37</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0637 GMT - Cnooc's oil production will likely remain robust despite its recently lowered output guidance, Chokwai Lee of Morningstar writes in a note. The recent cut in production targets for 2025-2026 was due to its disposal of the oil-and-gas business in the U.S. Gulf of Mexico, which mainly comprised nonoperating interests in projects, Lee writes. This will help Cnooc reduce political risks while maintaining competitive production costs, Lee adds. Given Cnooc's strong track record and project pipeline, it will likely be able to meet current production targets through 2027, which still reflect a robust growth rate, Lee says. Morningstar retains its fair value estimate of HK$23.00. Shares are 0.75% lower at HK$18.48. (kimberley.kao@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 24, 2025 01:37 ET (06:37 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1528","symbol_name":"石油股票概念","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2505886837","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2505886837","pubTimestamp":1737700620,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0637 GMT - Cnooc's oil production will likely remain robust despite its recently lowered output guidance, Chokwai Lee of Morningstar writes in a note. The recent cut in production targets for 2025-2026 was due to its disposal of the oil-and-gas business in the U.S. Gulf of Mexico, which mainly comprised nonoperating interests in projects, Lee writes. This will help Cnooc reduce political risks while maintaining competitive production costs, Lee adds. Given Cnooc's strong track record and project pipeline, it will likely be able to meet current production targets through 2027, which still reflect a robust growth rate, Lee says. Morningstar retains its fair value estimate of HK$23.00. Shares are 0.75% lower at HK$18.48. 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The recent cut in production targets for 2025-2026 was due to its disposal of the oil-and-gas business in the U.S. Gulf of Mexico, which mainly comprised nonoperating interests in projects, Lee writes. This will help Cnooc reduce political risks while maintaining competitive production costs, Lee adds. Given Cnooc's strong track record and project pipeline, it will likely be able to meet current production targets through 2027, which still reflect a robust growth rate, Lee says. Morningstar retains its fair value estimate of HK$23.00. Shares are 0.75% lower at HK$18.48. (kimberley.kao@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 24, 2025 01:37 ET (06:37 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}