CNOOC Limited Overview
Pro stress-test →CNOOC is China's main offshore oil and gas exploration and production company, with exclusive rights through its parent to partner with foreign companies in offshore China projects. The company produced 726.8 million barrels of oil equivalent in 2024 (78% oil), with assets outside China representing 32.2% of production.
Strategic Profile
Pro stress-test →CNOOC produces offshore crude oil and natural gas primarily in Bohai and the South China Seas, with additional interests in oil and gas assets across Asia, Africa, North America, South America, Oceania, and Europe. As the third-largest national oil company in China after CNPC and Sinopec, CNOOC operates with government backing and strategic control.
Competitive Landscape
Pro stress-test →CNOOC competes as the third-largest national oil company in China, with rivals CNPC and Sinopec increasingly entering offshore exploration. Internationally, CNOOC competes with supermajors like ExxonMobil and BP in offshore Asian exploration and production.
Industry Context
CNOOC Limited operates in Oil and Gas Exploration and Production.
Key facts
Founded: 1982 · Headquarters: Hong Kong, China · Employees: 98,750+ · Market cap: $1.16T HKD