Cnooc Limited’s Net Profit Dropped 10.2% in First Three Quarters of 2023

Cnooc Limited (中国海洋石油有限公司) (600938.SH) reported a net profit of 97.7 billion yuan in the first three quarters of 2023, down 10.2% year-on-year.

Meanwhile, the company posted 306.8 billion yuan in revenue, down 1.4% year-on-year.

At the end of the reporting period, it had 1 trillion yuan in total assets and 375.4 billion yuan in total liabilities, with a liability-to-asset ratio of 36.8%.