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  • Rank72
  • Previous Rank79
  • CEO
    Yang Hua
  • Address
    25 Chaoyangmenbei Dajie, Beijing 100010
  • Websitehttp://www.cnooc.com.cn
  • Industry
    Mining, Crude-Oil Production

Most energy companies have had a rough ride over the past year or so, as a glut of oil and natural gas on global markets sent commodity prices and shares tumbling. But CNOOC, the smallest of China’s three state-controlled oil “majors,” has had an easier time than most, managing to increase both profits and revenues in 2014. The company announced earlier this year that it would increase its oil output for the year, even as its fellow majors, Sinopec and PetroChina, are cutting production. CNOOC has two advantages that many other oil giants lack: It doesn’t own refining operations, which often become money-losers when oil prices fall; and its near-monopoly rights over China’s offshore oil resources make its exploration costs extremely low. Energy analysts expect the company to ride a rebound in oil prices to modest growth for 2015.

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Company Information

CEO
Yang Hua
Industry
Mining, Crude-Oil Production
Sector
Energy
HQ Location
Beijing, China
Websitehttp://www.cnooc.com.cn
Years on List9
Government owned 50% or more.

Key Financials (last fiscal year)

($ Millions)% change
Revenues99,262.23.4%
Profits8,592.611.6%
Assets180,427.8-
Employees114,573-

Profits as a % of

Profit as % of Revenues8.7%
Profits as % of Assets4.8%
Profits as % of Stockholder Equity11.6%