- China's CNOOC (CEO -0.8%) says H1 profits jumped 57% Y/Y to 25.48B yuan ($3.71B), its best half-year performance since H1 2015, helped by higher crude prices and strong gas sales.
- CNOOC's H1 crude oil production from domestic fields fell to 128M barrels from 134M barrels in the year-ago period, citing the aging of the Bohai Rim field and the maintenance of two drilling ships, while natural gas output rose 11% Y/Y.
- CNOOC maintains guidance for full-year capex of 70B-80B yuan, even as capital spending during H1 totaled only 21B yuan; the company says it will accelerate spending in H2.