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CNOOC: No Adjustment to Capital Expenditure Plan at Present
Recommend 6 Positive 4 Negative 3 |
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CNOOC (00883.HK)'s management said at an earnings conference call that the company has limited project interests in Iraq and the United Arab Emirates (UAE), and the personal and asset safety of local employees is currently safeguarded. The situation in the Middle East has limited overall impact on the company. CNOOC's 1Q26 capital expenditure was approx. RMB33.02 billion, up 19.1% YoY, mainly due to accelerated deployment of workload at exploration and adjustment wells and faster capacity construction. Capacity construction has progressed ahead of schedule, while capital expenditure is based on specific project advancement, with no adjustment to the capital expenditure plan at present, management added. The company previously announced a target capital expenditure of RMB112-122 billion for 2026. Auto-translated by AI AASTOCKS Financial News |
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