Oil and gas production
CNOOC explores for, develops, and produces crude oil and natural gas from offshore and onshore fields, then sells those hydrocarbons to downstream buyers.
Customers and revenue model
C
CNOOC Ltd
XMUN:NC2B
CNOOC Ltd
XMUN:NC2B
Price:
2.22
EUR
Market Closed
Market Cap:
€36.3B
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Company Overview
Business Description
- Sector
- Energy
- Industry
- Energy
- Headquarters
- China CN
- Employees
- 22 045
- IPO date
- Feb 28, 2001
CNOOC Ltd is China’s main offshore oil and gas company. It explores for crude oil and natural gas, develops offshore fields, and produces the hydrocarbons that later become fuel, chemicals, and other energy products. Its core business is finding reserves under the sea, bringing them into production, and selling the output to refiners, traders, and industrial users.
The company makes money mainly by selling oil and gas, so its income depends on production volumes and market prices for those commodities. It also earns from related services tied to field development and operations, but the heart of the business is upstream energy production rather than refining or retail fuel sales. That means it sits near the start of the energy value chain, where geology, drilling skill, and access to offshore resources matter most.
What makes CNOOC different is its focus on offshore projects, especially in China and nearby waters, where it has built deep technical expertise and long-lived operating assets. It is not a consumer brand and does not sell directly to households. Instead, it is a large industrial supplier that turns offshore reserves into usable energy for domestic and global markets.
Management
1 / 3
Ms. Xin Wang
Chief Financial Officer
Xin Wang serves as the Chief Executive Officer (CEO) of CNOOC Limited. With extensive experience in the oil and gas industry, she has played a crucial role in advancing the company's strategic initiatives and operational excellence. Before becoming CEO, Ms. Wang held various leadership positions within CNOOC, contributing significantly to its exploration and production activities. Her leadership is marked by a deep understanding of the energy sector, a focus on sustainable development, and efforts to enhance CNOOC's global presence. Under her guidance, the company has continued to expand its resource base and technological capabilities, reinforcing its position as a leading player in the industry.
Mr. Yugao Xu
General Counsel, Compliance Officer & Joint Company Secretary
Yugao Xu is a prominent executive associated with China National Offshore Oil Corporation (CNOOC) Limited, one of the largest national oil companies in China. He has played a significant role in the operations and strategic initiatives of CNOOC.
With extensive experience in the oil and gas industry, Mr. Xu has been instrumental in advancing CNOOC's exploration and production capabilities. His leadership has contributed to the company's growth and its ability to compete in the global energy market. Xu's work often involves overseeing technological advancements and ensuring efficient production processes within CNOOC's diverse portfolio of energy projects.
His expertise is not only confined to technical and operational areas but also extends into management and strategic governance. This includes fostering international partnerships and navigating the complex regulatory environments that energy companies often encounter.
Xu has a background in engineering and management, which supports his efforts in driving innovation and sustainability practices within CNOOC. His role in senior management highlights his commitment to enhancing the company's competitive edge through robust leadership and industry knowledge.
With extensive experience in the oil and gas industry, Mr. Xu has been instrumental in advancing CNOOC's exploration and production capabilities. His leadership has contributed to the company's growth and its ability to compete in the global energy market. Xu's work often involves overseeing technological advancements and ensuring efficient production processes within CNOOC's diverse portfolio of energy projects.
His expertise is not only confined to technical and operational areas but also extends into management and strategic governance. This includes fostering international partnerships and navigating the complex regulatory environments that energy companies often encounter.
Xu has a background in engineering and management, which supports his efforts in driving innovation and sustainability practices within CNOOC. His role in senior management highlights his commitment to enhancing the company's competitive edge through robust leadership and industry knowledge.
Ms. Jing Liu
Manager of Media & Public Relations
Jing Liu serves as a key executive at CNOOC Limited, holding the position of Chief Financial Officer since February 2022. She brings extensive experience in finance and accounting to her role, having previously worked in various senior capacities within CNOOC and its subsidiaries. Her expertise spans corporate finance, strategic planning, mergers and acquisitions, and capital markets. With a strong educational background in finance, Ms. Liu has been instrumental in shaping the financial strategy of CNOOC, leveraging her skills to enhance the company’s financial health and operational efficiency. Under her leadership, CNOOC aims to maintain its competitive edge in the energy industry through sound fiscal management and strategic financial initiatives.
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