China CNOOC's Q1 revenue falls 30.7 pct as oil prices dive
BEIJING, April 28 (Reuters) - China's CNOOC Ltd, the country's offshore oil and gas specialist, reported a 30.7 percent decline in first-quarter revenue, as global oil prices sank below $40 a barrel, the company said on Thursday.
Total oil and gas sales revenue, which was unaudited, was 24.64 billion yuan ($3.80 billion) in the first quarter, as realised oil prices dropped 39.1 percent from a year ago to $32.54 per barrel.
Total net production rose 5.1 percent over the year-ago period to 124.3 million barrels of oil equivalent (boe), the company said in a filing with the Hong Kong stock exchange.
Last month, CNOOC reported 2015 net profit fell by two-thirds to 20.25 billion yuan. ($1 = 6.4784 Chinese yuan renminbi) (Reporting by Chen Aizhu; Editing by Muralikumar Anantharaman)
© Thomson Reuters 2017 All rights reserved.