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China National Offshore Oil Corp.
Published:2017-06-06 17:08:05    Text Size:【BIG】【MEDIUM】【SMALL
Summary:China National Offshore Oil Corporation (CNOOC) is a state-owned oil company incorporated on February 15, 1982. CNOOC is authorized under the Regulations of the People's Republic of China on the Exploitation of Offshore Petroleum Resources in Cooperation with Foreign Enterprises to assume the overall responsibilities for the exploitation of China¡¯s offshore oil and gas resources in cooperation with foreign partners.

China National Offshore Oil Corporation ("CNOOC"), the largest offshore oil & gas producer in China, is a state-owned company operating directly under the State-owned Assets Supervision and Administration Commission of the State Council of the People's Republic of China. Founded in 1982 and headquartered in Beijing, CNOOC has evolved from an upstream oil & gas company to an international energy company with promising core businesses and a complete industrial chain.

Now, CNOOC businesses cover the main segments of oil & gas exploration and development, engineering & technical services, refining and marketing, natural gas and power generation, and financial services. The company's overseas businesses cover more than 40 countries and regions.

In 2015, CNOOC's ranking in the Fortune Global 500 rose to 72, which was 7 places higher than that in 2014. Standard & Poor's and Moody's continue to rate the company with credit ratings of AA- and Aa3.

CNOOC has been making great efforts to bolster its business development in line with China's "One Belt, One Road" Program. Striving toward the goal of building a world-class energy company, CNOOC will continue to focus on the transformation of economic development pattern, the industry structural adjustment and the improvement of development quality and efficiency.

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