China National Offshore Oil Corporation broadcast first quarter outcomes, total income declined 41.9 per hundred year-on-year to 13.95 billion yuan (RMB, identical below), mostly due to the drop in oil charges initiated by the influence of the sales price.
Group Executive Director Yang Hua said in a seminar call, whereas the influence of financial recession and natural gas demand, output dropped somewhat in the first quarter, but its full-year 225,000,000 to 2.3 million barrels of oil matching output goal has not changed.
The first quarter of 41.56 U.S. dollars cost to accomplish
Day Group the first quarter of the total mesh end wares of 567,000 barrels of oil same, an advance of 15% year-on-year, of which crude oil and petroleum fluids goods produced advanced by 19.7% to 469,000 barrels per day. Natural gas goods produced diminished to some extent by about 4% to 560 million cubic feet per day.
As part of the sale, the Group operating income, crude oil and petroleum liquids revenues fell 45.6 percent to 122 billion, during the realization of 41.56 U.S. dollars per barrel oil prices, down more than half of the same period last year. Gas revenues decreased 3.8 percent to 13.5 billion, during the realization of natural gas sales price per thousand cubic feet 3.89 U.S. dollars, increased by 6.6% year-on-year.
Yang said that in augmentation to oil costs connected to deliver and demand, but in addition included in the geo-political effect, the circumstances is very complex, consequently, it is not yet geared up to have a declare on the movements of oil costs, but restated that "the constancy of oil costs is the best." He in addition incisive out that though the market stays volatile, but Asia has superiority over other environs, "we should sense fortunate."
As regards the exploration and exploitation, the waters in China a total of seven newly discovered, and with partners after evaluation of five wells. BZ Group, Panyu and the Nigeria project has been put into operation in March, while in Indonesia the project will be put into operation within the second quarter of this year.
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