CNOOC: No Adjustment to Capital Expenditure Plan at Present
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CNOOCannounced during an earnings call that it will not adjust its capital expenditure plan, which remains targeted at RMB112-122 billion for 2026. The company's 1Q26 capital expenditure was approximately RMB33.02 billion, a 19.1% increase year-on-year, driven by accelerated project deployment. Management noted limited project interests in Iraq and the UAE, with local employee safety ensured, and stated that the situation in the Middle East has had a minimal impact on operations.
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