, Hong Kong

CNOOC bounces back after oil price plunged in Q1 2020

Stocks appreciated 34% in February 2021.

Oil and natural gas company CNOOC Ltd manages to get back up after oil prices plunged in the first quarter of 2020, according to a report by OCBC Investment Research.

Revenue had been down to $198.29b (CNY166.6b) in 2020 from a previous ($277.56b (CNY233.2b) in 2019. The 2021 revenue is expected to increase to $249.59b (CNY209.7b), according to projections by OCBC.

“We have been issuing hold-rated reports on CNOOC Ltd for most of 2020 before using the opportunity of the Trump Executive Order news to upgrade the stock to 'buy' on 2 December 2020,” OCBC said.

Higher than expected oil prices would be a positive catalyst for the company, pending – fluctuation in crude oil prices.

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!