Ratings On China-Based CNOOC Ltd. and its Parent Unaffected by Acquisition - S&P Global Ratings’ Credit Research

Ratings On China-Based CNOOC Ltd. and its Parent Unaffected by Acquisition

Ratings On China-Based CNOOC Ltd. and its Parent Unaffected by Acquisition - S&P Global Ratings’ Credit Research
Ratings On China-Based CNOOC Ltd. and its Parent Unaffected by Acquisition
Published Jan 18, 2002
Published Jan 18, 2002
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

HONG KONG (Standard&Poor's) Jan. 18, 2002--Standard and Poor's said today that its foreign currency ratings on both CNOOC Ltd. (BBB/Stable/--) and its parent, China National Offshore Oil Corp. (BBB/Stable/--), would not be affected by the recent announcement that CNOOC Ltd. has agreed to buy five oil and gas fields in Indonesia from Repsol-YPF S.A. (BBB+/Stable/A-2). The total cost of the acquisition will be about US$585 million and will be funded initially with cash. CNOOC Ltd. will have working interests ranging from 16.7% to 65.34% in the Indonesian oil and gas properties. The acquisition will boost CNOOC Ltd.'s oil and gas reserves by 10% to 1.985 billion barrels of oil equivalent (BOE) and daily production by 17% to about

  
Report Type:

News

Ticker
883@HK
Issuer
CNOOC Ltd.
GICS
Oil & Gas Exploration & Production (10102020)
Sector
Global Issuers
Country
Hong Kong
Region
Latin America
Format:
HTML HTML
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MLA:
S&P Global Ratings’ Credit Research. "Ratings On China-Based CNOOC Ltd. and its Parent Unaffected by Acquisition" Jan 18, 2002. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-China-Based-CNOOC-Ltd-and-its-Parent-Unaffected-by-Acquisition-227425>
  
APA:
S&P Global Ratings’ Credit Research. (). Ratings On China-Based CNOOC Ltd. and its Parent Unaffected by Acquisition Jan 18, 2002. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-China-Based-CNOOC-Ltd-and-its-Parent-Unaffected-by-Acquisition-227425>
  
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