SOURCE: Industrial Info Resources

Industrial Info Resources

February 05, 2010 05:30 ET

CNOOC's Oil and Gas Output to Reach 290 Million Barrels in 2010, an Industrial Info News Alert

BEIJING--(Marketwire - February 5, 2010) - Researched by Industrial Info Resources (Sugar Land, Texas) -- The oil and gas output of CNOOC Limited (NYSE:CEO) (Beijing), the listed flagship of China National Offshore Oil Corporation (CNOOC) (Beijing), is expected to reach 275 million to 290 million barrels equivalent in 2010, an increase of 21% to 28% year over year. This expected output is calculated based on the crude oil price index of $75 per barrel, while the output estimated for 2009 corresponded to a price of $62 per barrel, according to the "Operation Strategy and Development Plan 2010," released by CNOOC Limited on February 2, 2010.

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