Oil and Gas Exploration and Production

CNOOC

CNOOC Hainan Branch Builds Largest Offshore Gas Field, Annual Oil & Gas Output Exceeds 10 Million Tonnes

CNOOC Boosts Offshore Output and Reopens Huizhou Steam Cracking Unit

JPMorgan Upgrades CNOOC EPS Forecast and Maintains Rating

CLP and CNOOC Sign Memorandum to Deepen Energy Cooperation

BOCI Raises CNOOC Target Price to HKD 34.69 and Maintains Buy Rating

HSBC Global Research Maintains Buy Rating on CNOOC

CNOOC Maintains 2026 Capital Expenditure Plan

China's First Large-Scale Fracturing Vessel 'Marine Oil 696' Successfully Berths in Tianjin

CNOOC Announces First Quarter 2026 Net Profit Up 7.10% Year-over-Year

CNOOC released FY2026 Q1 earnings on April 28 Pre-Market (BJT), actual revenue CNY 116.08 B (forecast CNY 111.95 B), actual EPS CNY 0.82

Morgan Stanley Sees Promise in CNOOC's Cost Advantages and Dividend Commitments, Upgrades to Overweight

Ocean Oil 166 Successfully Delivered to Beibu Gulf by China COSCO Shipping Zhiyuan Kou

CNOOC to Release FY2026 Q1 Earnings on April 28 Pre-Market (BJT), Forecast Revenue CNY 111.95 B

CNOOC Energy Development Delivers First Offshore Mobile Multi-functional Measure Platform

CNOOC Successfully Deploys Self-Developed 1500m Deep-Sea Drilling Riser System

CNOOC Tianjin Company Exceeds 10 Million Tons of Oil and Gas Production in First Quarter of Bohai Oilfield

CNOOC Releases 2025 Annual Report

Huansan Securities: CNOOC's Oil Cost Compressed, Maintains 'Buy' Rating

Citibank Raises Forecast and Target Price for CNOOC

China National Offshore Oil Corporation 2024 Annual Performance Live Broadcast

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CLSA reports that SINOPEC CORP has underperformed compared to PETROCHINA and CNOOC since the Israel-Iran conflict, reflecting a divergence in earnings amid rising oil prices. The broker expects SINOPEC to potentially report a loss in 2Q26 due to downstream challenges, impacting dividend distributions. In contrast, PETROCHINA and CNOOC are projected to benefit from strong cash flows and increased dividends. CLSA maintains an Outperform rating for all three, with target prices set at HKD12 for PETROCHINA, HKD32 for CNOOC, and HKD4.9 for SINOPEC CORP.

AASTOCKS News

PETROCHINA

SINOPEC CORP

Sinopec Corp.

PetroCN HK SDR 1to2

CNOOC-R

CLSA: SINOPEC CORP  Share Price Has Underperformed Peers Since Israel-Iran Conflict, Reflecting Fundamental Divergence; Sector Top Pick PETROCHINA

The HSI opened down 123 points at 25,838, following a decline in US stock indices. Major tech stocks like Tencent and Alibaba also opened lower. In contrast, oil stocks CNOOC and PetroChina rose against the market trend. LEAPMOTOR saw a significant drop of over 7% after reporting a larger-than-expected loss in Q1.

HSI Opens Down 123 pts; 2 Oils Hike Against Mkt; LEAPMOTOR Slumps 3%+ Post-Results

Cnooc (600938) boosts offshore output and capacity in South China Sea, Brazil and Guyana, pursuing regional development in key offshore basins to expand production amid energy-driven growth plans.1Cnooc (600938) and Shell restarted Huizhou steam cracker in late April; plant now producing 1.2M t/yr ethylene and 600k t/yr propylene, on-spec output.2

TradingView

Shell PLC

Shell

Key facts: Cnooc boosts offshore capacity; Huizhou restarts 1.2M/600k

The Hainan LNG Phase II project, reported by China Oil & Gas Pipeline Network Corporation, has reached a significant milestone with the completion of the dome air-raising operation for its No. 3 storage tank. The project, which is nearly halfway complete, is expected to be fully finished by 2027. It will add 400 million cubic meters of gas storage capacity, enhancing natural gas supply security for Hainan Island and South China's coastal regions.

Hainan LNG Phase II Project Expected to Be Fully Completed Next Year

Ayatollah Mojtaba Khamenei declared Iran will protect its nuclear program and secure the Persian Gulf without US presence. In a speech read on state TV, he emphasized the importance of Iran's advanced technologies and vowed to dismantle foreign exploitation of the region. Meanwhile, US military options, including hypersonic missiles, are being considered against Iran as oil prices surge, reaching $126 a barrel. The IAEA chief warned of a global energy crisis due to the ongoing conflict, highlighting significant pressures on oil and gas markets.

ZeroHedge

Defiant Mojtaba Khamenei Says Gulf's Future Will Be "Without US Presence," Vows To Protect Nuclear Program At All Costs

JPMorgan has issued a research report indicating that CNOOCis expected to raise its mid- to long-term production target due to a sustained increase in oil prices. CNOOC reported a net profit of RMB39.1 billion for Q1 2026, reflecting a 96% quarter-on-quarter and 7% year-on-year increase. Despite adjusting its maintenance plan and accelerating project construction, the company will not change its FY2026 earnings guidance for now. JPM has raised its EPS forecasts for CNOOC by 3% and maintains an Overweight rating with a target price of HKD33 for its H shares.

JPMorgan Chase

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

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JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

JPM Expects CNOOC  to Raise Mid- to Long-term Production Target, Maintains Overweight

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CNOOC Limited (NC2B) has received a Buy rating from DBS analyst Pei Hwa Ho, who set a price target of HK$34.50. Ho, a 5-star analyst with a 72.09% success rate, focuses on the Energy sector. The current analyst consensus for CNOOC Limited is a Strong Buy, with an average price target of €3.53.

Tip Ranks

CNOOC F03 N3305

CNOOC F13 N4305

CNOOC F13 N2909

Seatrium

CNOOC Limited (NC2B) Receives a Buy from DBS

BOCI has raised its target price for CNOOCfrom HKD32.28 to HKD34.69, maintaining a Buy rating. The report highlights a 7% YoY increase in CNOOC's net profit for Q1 2026, driven by higher oil prices and production. The broker anticipates stronger earnings in upcoming quarters due to rising oil prices following the Middle East conflict, adjusting its oil price forecasts for 2026-2028 upwards by 6%, 3%, and 1%.

BOCI Raises CNOOC  TP to HKD34.69, Reiterates Buy

HSBC Research reports that CNOOCmay raise its guidance if oil prices remain high, following a 7% YoY net profit increase to RMB39 billion in Q1 2026. The company maintained its production and capital expenditure guidance, but could adjust if Brent crude stays at USD80 per barrel. HSBC maintains a Buy rating with a target price of HKD32.3, highlighting CNOOC's growth prospects and an attractive forecast dividend yield of 6%.

HSBC HOLDINGS

HSBC

HSBC 5xShortSG241213

HSBC Holdings Plc

HSBC Research: CNOOC  May Raise Guidance If Oil Prices Stay High; Forecast Dividend Yield of 6% Attractive

CNOOC(600938.SH)

CLSA: SINOPEC CORP Share Price Has Underperformed Peers Since Israel-Iran Conflict, Reflecting Fundamental Divergence; Sector Top Pick PETROCHINA

HSI Opens Down 123 pts; 2 Oils Hike Against Mkt; LEAPMOTOR Slumps 3%+ Post-Results

Key facts: Cnooc boosts offshore capacity; Huizhou restarts 1.2M/600k

Hainan LNG Phase II Project Expected to Be Fully Completed Next Year

Defiant Mojtaba Khamenei Says Gulf's Future Will Be "Without US Presence," Vows To Protect Nuclear Program At All Costs

JPM Expects CNOOC to Raise Mid- to Long-term Production Target, Maintains Overweight

CNOOC Limited (NC2B) Receives a Buy from DBS

BOCI Raises CNOOC TP to HKD34.69, Reiterates Buy

HSBC Research: CNOOC May Raise Guidance If Oil Prices Stay High; Forecast Dividend Yield of 6% Attractive