Aug 26, 2009 07:07 PM

CNOOC H1 Net Profit Falls 55%

(.com.cn) CNOOC Ltd., the Hong Kong- and New York-listed arm of China National Offshore Oil Corp., said first-half net profit fell 55 percent year-on-year to 12.4 billion yuan due to lower crude prices.

In a statement to the Hong Kong Stock Exchange on Aug. 26, CNOOC (HKEX: 0883, NYSE: CEO) said revenue dropped 42 percent year-on-year to 40.65 billion yuan.

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