CNPC Maintains Strong Growth Momentum Both at Home and Worldwide

PetroChina eager for reform
PetroChina, the nation＇s leading oil and natural gas producer, expects a 20-billion-yuan （US$3.3 billion） annual profit boost from the government＇s natural gas price reform, according to the recent reports from the news media. That inflow＂ will further buoy the State- owned company＇s natural gas business, which saw a surge in first-half profit. The National Development and Reform Commission, the top economic planning agency, recently said it would raise the government-set wholesale price of natural gas by 15 percent to a national average of 1.95 yuan per cubic meter.     

CNOOC Maintains Strong Growth Momentum Both at Home and Worldwide

CNOOC Limited completes acquisition of NexenCNOOC Ltd.'s acquisition of Canadian oil and gas company Nexen Inc for US$15.1 billion-China's largest overseas takeover-was officially closed in late February 2013,seven months after it was announced.The nation's biggest offshore oil explorer CNOOC is now in control of Calgary-headquartered Nexen,which owns assets in western Canada,the North Sea,West Africa and the Gulf of Mexico.The deal helps CNOOC come into the oil and gas businesses in the North Sea for the first time,in accordance with the company's long-term strategy,according to Yang Hua,president of the company.     

CNOOC Maintains Strong Growth Momentum Both at Home and Abroad

Key statistical figures of Q1
On April 22, CNOOC Limited announced its key operational statistics for the first quarter of 2014.