Cnooc Could Gain on Oil, Gas Breakthroughs -- Market Talk

Dow Jones

Aug 28

0716 GMT - Cnooc's shares could rise given its breakthroughs in oil and gas exploration and discoveries, Citi's Desmond Law and Oscar Yee say in a note. The Chinese energy company made five new offshore discoveries in China and appraised several large- and medium-sized oil and gas bearing structures in 1H. It looks poised to meet its 2025 target reserve replacement ratio of not less than 130%, they say. Cnooc also advanced its deep water exploration campaign in Guyana and signed its first oil contract for exploration in a new Kazakhstan block, which enlarges its overseas exploration portfolio. Citi maintains its buy rating and HK$24.00 target. Cnooc's Hong Kong-listed shares gain 4.1% to HK$19.41. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

August 28, 2025 03:16 ET (07:16 GMT)

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The Chinese energy company made five new offshore discoveries in China and appraised several large- and medium-sized oil and gas bearing structures in 1H. It looks poised to meet its 2025 target reserve replacement ratio of not less than 130%, they say. Cnooc also advanced its deep water exploration campaign in Guyana and signed its first oil contract for exploration in a new Kazakhstan block, which enlarges its overseas exploration portfolio. Citi maintains its buy rating and HK$24.00 target. Cnooc's Hong Kong-listed shares gain 4.1% to HK$19.41. 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The Chinese energy company made five new offshore discoveries in China and appraised several large- and medium-sized oil and gas bearing structures in 1H. It looks poised to meet its 2025 target reserve replacement ratio of not less than 130%, they say. Cnooc also advanced its deep water exploration campaign in Guyana and signed its first oil contract for exploration in a new Kazakhstan block, which enlarges its overseas exploration portfolio. Citi maintains its buy rating and HK$24.00 target. Cnooc's Hong Kong-listed shares gain 4.1% to HK$19.41. (megan.cheah@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  August 28, 2025 03:16 ET (07:16 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":"00883","symbol_name":"中国海洋石油","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2562083343","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2562083343","pubTimestamp":1756365360,"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":"0716 GMT - Cnooc's shares could rise given its breakthroughs in oil and gas exploration and discoveries, Citi's Desmond Law and Oscar Yee say in a note. The Chinese energy company made five new offshore discoveries in China and appraised several large- and medium-sized oil and gas bearing structures in 1H. It looks poised to meet its 2025 target reserve replacement ratio of not less than 130%, they say. Cnooc also advanced its deep water exploration campaign in Guyana and signed its first oil contract for exploration in a new Kazakhstan block, which enlarges its overseas exploration portfolio. Citi maintains its buy rating and HK$24.00 target. Cnooc's Hong Kong-listed shares gain 4.1% to HK$19.41. 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The Chinese energy company made five new offshore discoveries in China and appraised several large- and medium-sized oil and gas bearing structures in 1H. It looks poised to meet its 2025 target reserve replacement ratio of not less than 130%, they say. Cnooc also advanced its deep water exploration campaign in Guyana and signed its first oil contract for exploration in a new Kazakhstan block, which enlarges its overseas exploration portfolio. Citi maintains its buy rating and HK$24.00 target. Cnooc's Hong Kong-listed shares gain 4.1% to HK$19.41. (megan.cheah@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  August 28, 2025 03:16 ET (07:16 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":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}