Original Source
CNOOC Aims to Boost Oil and Gas Output Amid Middle East Strife
CNOOC Announces Production Boost Plan
China National Offshore Oil Corporation (CNOOC), China’s largest offshore crude oil and natural gas producer, aims to further boost its production in 2026. This move comes in response to ongoing geopolitical tensions and an increase in oil prices. The announcement follows a report detailing an 11.5% drop in net profit to 122.08 billion yuan (US$17.7 billion) in 2025. Despite achieving record-high production volumes, low oil prices during that year were cited as the primary reason for the profit decline.
2025 Performance and Market Dynamics
CNOOC's net profit for 2025 was impacted by lower oil prices, leading to the reported decrease. However, the company successfully reached record production volumes for crude oil and natural gas, indicating strong operational capacity. The current Middle East strife is influencing international oil prices, providing context for CNOOC's strategy to increase output.
*Source: SCMP China (2026-03-26)*
