China National Offshore Oil Corporation (CNOOC), the largest offshore oil and
gas producer in China and the third largest LNG importer in the world, is a
state-owned maga company operating directly under the control of the State-owned
Assets Supervision and Administration Commission (SASAC) of the State Council of
the People’s Republic of China.
Headquartered in Beijing, CNOOC was founded in 1982. After more than 30 years
of reform and development, it has become an international energy company with
prominent core business, a complete industrial chain and assets spreading across
45 countries and regions on six continents. The five main business segments of
the Company are oil & gas exploration and development, engineering and
technical services, refining and marketing, natural gas and power generation and
financial services. The Company has also significant advancement in sustainable
development.
In 2018, CNOOC produced 74.06 million tons of crude oil, 27.73 billion cubic
meters of natural gas, 14.55 million tons of refined oil, and 21.58 billion kWh
electricity generation from natural gas. It processed 41.32 million tons of
crude oil and imported 26.42 million tons of LNG. Domestic natural gas sales
first exceeded 50 billion cubic meters, and oil product trade volume was over
100 million tons. The Company’s total assets reached ＄1.2183 trillion by the end
of 2018.
Up to now, CNOOC was ranked 87th in the Fortune Global 500 and 32nd in
Petroleum Intelligence Weekly (PIW)’s World’s Top 50 Oil Companies. SASAC rated
the Company A for 14 consecutive years and 4 terms.
