CNOOC (0883) said third-quarter revenue fell ny 27.7 percent to 36.33 billion yuan (HK$42.18 billion). The unaudited oil and gas sales revenue dropped by 26.8 percent to 35.55 billion yuan last quarter, mainly due to lower realized oil price, increased oil and gas sales volume, and exchange rate fluctuations. Average realized oil price fell by 29.3 percent year-on-year to US$43.03 (HK$335.63) per barrel. Average realized gas price increased by 2 percent to US$ 5.85 per thousand cubic feet, mainly due to the increased proportion of gas sales volume with a higher realized price in China. But capital expenditure grew by 1.6 percent to 54.03 billion yuan in the first three quarters.

Source: The Standard October 22, 2020 10:30 UTC