CNOOC(600938)2023-10-24 16:00Financial Performance - In Q3 2023, the total comprehensive income amounted to RMB 103,720 million, a decrease of 21.1% compared to RMB 131,379 million in Q3 2022[3] - Basic and diluted earnings per share for Q3 2023 were RMB 2.05, down from RMB 2.34 in Q3 2022, representing a decline of 12.4%[3] - The net profit attributable to shareholders of the parent company reached RMB 97.65 billion, down 10.2% year-on-year[18] - The net profit attributable to shareholders for Q3 2023 was RMB 33,884 million, a decrease of 8.13% compared to the same period last year[45] - Net profit for the period was 97,659 million, down from 108,758 million in the previous period, representing a decrease of approximately 10.2%[57] - The company reported a total profit of 132,955 million, down from 149,693 million, reflecting the impact of increased costs and economic conditions[57] Cash Flow and Liquidity - Cash flow from operating activities for the first nine months of 2023 was RMB 159,045 million, a decrease of 4.9% from RMB 166,892 million in the same period of 2022[7] - Cash and cash equivalents at the end of Q3 2023 were RMB 135,146 million, an increase of 29.9% from RMB 104,111 million at the end of Q3 2022[10] - The company reported a net cash outflow from investing activities of RMB 54,283 million in the first nine months of 2023, an improvement from a net outflow of RMB 75,913 million in the same period of 2022[7] - The company's cash inflow from financing activities was RMB 107 million in the first nine months of 2023, a significant decrease from RMB 32,816 million in the same period of 2022[7] - The net cash flow from operating activities for the first three quarters of 2023 was RMB 159,045 million, a decrease of 4.70% year-on-year[47] Assets and Liabilities - Total assets as of September 30, 2023, were RMB 1,020,025 million, an increase of 9.8% from RMB 929,031 million at the end of 2022[10] - The company's total liabilities increased to RMB 375,395 million as of September 30, 2023, compared to RMB 330,648 million at the end of 2022, reflecting a rise of 13.5%[12] - The company’s total equity attributable to shareholders increased to RMB 643,415 million as of September 30, 2023, up from RMB 597,182 million at the end of 2022, marking an increase of 7.7%[12] Revenue and Production - For the first three quarters of 2023, the company achieved unaudited oil and gas sales revenue of approximately RMB 238.4 billion, a year-on-year decrease of 10.3%[18] - The total revenue for the third quarter was RMB 123.9 billion, compared to RMB 110.1 billion in the same quarter of 2022[24] - The company's operating revenue for Q3 2023 was RMB 114,753 million, an increase of 5.48% year-on-year[45] - The total net production for the first three quarters was 470 million barrels of oil equivalent, compared to 419.7 million barrels of oil equivalent in the same period of 2022[21] - The net production for the first three quarters of 2023 reached 499.7 million barrels of oil equivalent, an increase of 8.3% year-on-year, marking a historical high for the same period[55] - The company achieved a net production of 167.8 million barrels of oil equivalent in Q3 2023, an increase of 7.0% year-on-year[55] Costs and Expenditures - Capital expenditures for the first three quarters amounted to approximately RMB 89.46 billion, an increase of 30.2% year-on-year, with the annual capital expenditure budget adjusted to RMB 120-130 billion[18] - The company’s main oil cost per barrel was 76.84 per barrel, a decrease of 24.2% year-on-year, while the average realized gas price was $7.92 per thousand cubic feet, down 2.7% year-on-year[18] - The average realized price for oil liquids in Q3 2023 was USD 83.20 per barrel, a decrease of 13.2% compared to the same period last year[50] - The average Brent crude oil price was 81.96 USD per barrel, a year-on-year decrease of 20%[59] Exploration and Development - The company made 8 new discoveries and successfully evaluated 21 oil and gas structures in the first three quarters of 2023[42] - Three new projects were successfully put into production in the first three quarters of 2023, with significant progress on other projects[60] - The company continues to strengthen exploration and development efforts, achieving positive results in reserve addition and production enhancement[59] Fair Value and Other Income - The company recorded a fair value change loss of RMB 434 million in the third quarter[31] - Investment income rose slightly to 3,453 million from 3,377 million, with income from joint ventures contributing 1,302 million[57]