Offshore oil giant grows revenue 25pc

CNOOC (0883), China’s biggest offshore oil producer, said its revenues rose 25 percent to 18.6 billion yuan (HK$18.36 billion) in the third quarter, largely driven by production growth and higher oil and gas prices.

“Our gas production has increased significantly,” chairman Fu Chengyu said in a statement. “We are on the right [path] to achieve stable and continuous growth.”