Cnooc’s Profit Drops as Low Oil Prices Counter Output Growth

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Chinese oil major Cnooc Ltd. reportedBloomberg Terminal weaker earnings in 2025, as a drop in oil prices blunted the impact of the company’s rising production.Net income came in at 122.1 billion yuan ($17.7 billion), down from 137.9 billion yuan a year earlier, Cnooc said in an exchange filing on Thursday. That compares with the 130.7 billion yuan average of analyst estimates in a Bloomberg survey.