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CNOOC Targets Net Production 760-780M BOE This Yr; Annual Payout Ratio Not Less Than 45% Over Next 3 Yrs
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CNOOC (00883.HK) announced its 2025 business strategy. Its targeted net production for the entire year of 2025 is 760-780 million barrels of oil equivalent (BOE), of which, production from China and overseas accounts for approximately 69% and 31%, respectively. The company’s net production for 2026 and 2027 are expected to be 780-800 million BOE and 810-830 million BOE, respectively, compared to the expected net production of around 720 million BOE for 2024. To ensure shareholders’ return, subject to the approval by the general meeting of shareholders on the proposed dividends for each year, the annual payout ratio of CNOOC will be no less than 45% from 2025 to 2027. By adhering to the principle of returning to shareholders, CNOOC emphasized that it will adjust the above dividend policy based on changes in the market environment and taking into account factors such as the wishes of our shareholders, strategic planning, and operation results. AAStocks Financial News |
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