Summary: CNOOC Ltd. - S&P Global Ratings’ Credit Research

Summary: CNOOC Ltd.

Summary: CNOOC Ltd. - S&P Global Ratings’ Credit Research
Summary: CNOOC Ltd.
Published Jun 13, 2014
1764 words — Published Jun 13, 2014
Price US$ 225.00  |  Buy this Report Now

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Abstract:

Dominant market position in offshore China. Increasingly diversified reserve base. Satisfactory reserve life and good record of production growth. Increasing cost pressure. Very large capital expenditure program and aggressive growth appetite through acquisitions. Exposure to volatility in oil and gas prices. Strong cash flows. Strong liquidity. Aggressive capital expenditure plans for the next couple of years. The stable outlook on CNOOC Ltd. reflects the outlook on the sovereign credit rating on China. We could lower the rating on CNOOC Ltd. if we downgrade China or if the government reduces its support to the company because of a change in the government's strategies or priorities, a scenario we view as unlikely. We could also downgrade CNOOC Ltd. if the company's stand-alone

  
Brief Excerpt:

RESEARCH Summary: CNOOC Ltd. Publication date: 13-Jun-2014 Primary Credit Analyst: Jian Cheng, CFA, Hong Kong (852) 2533-3576; jian.cheng@standardandpoors.com Secondary Contact: Gloria Lu, CFA, FRM, Hong Kong (852) 2533-3596; gloria.lu@standardandpoors....

  
Report Type:

Summary

Ticker
883@HK
Issuer
CNOOC Ltd.
GICS
Oil & Gas Exploration & Production (10102020)
Sector
Global Issuers
Country
Hong Kong
Region
Latin America
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Summary: CNOOC Ltd." Jun 13, 2014. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-CNOOC-Ltd-1332029>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: CNOOC Ltd. Jun 13, 2014. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-CNOOC-Ltd-1332029>
  
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