600938 CNOOC Limited
- 33.26
- +0.06+0.18%
CNOOC Limited News
Guolian Securities: Tight balance of upstream petroleum resources, slow recovery of downstream demand.
Expected oil prices will continue to be maintained at a relatively high level, supported by the fundamentals.
United Kingdom Crude Petroleum & Natural Gas Extraction Industry Market Research Report 2024 Featuring CNOOC Petroleum Europe, BP, and TotalEnergies
Hang Seng Index Company: The Hang Seng Stock Connect State-Owned Enterprise Value Index has risen by more than 26% since the beginning of the year, significantly outperforming the market.
Heng Seng Index Company stated that state-owned enterprises have significantly outperformed in the Hong Kong stock market in recent years.
OPEC Monthly Report: Oil supply shortages may occur in the coming months as countries such as Russia have not yet fulfilled their production cuts.
On Wednesday, according to the latest monthly report from OPEC, although Russia significantly reduced its crude oil production in June, the three main OPEC+ members, Russia, Iraq, and Kazakhstan, still supply tens of thousands of barrels per day more than their quotas set earlier this year.
Crude Oil Regains Some Track – TDS
Crude oil's resilience has seen Commodity Trading Advisors (CTAs) add back their notable length in WTI. The impact to oil supply from hurricane Beryl was less than expected, TDS analysts note.
OPEC Holds Oil-Demand View Steady, Expects Faster Economic Growth -- Update
The Organization of the Petroleum Exporting Countries kept its bullish outlook for oil-demand growth unchanged and raised its economic-growth forecast for this year, citing solid momentum across major economies.
Crude Oil Prices Ease as Investors Digest Fed Chair Remarks, ANZ Bank Says
Crude oil prices ended the previous session lower and saw some volatility as investors considered Federal Reserve Chair Jerome Powell's semiannual monetary policy report, which said the U.S. is "no
Hong Kong stocks are turbulent | Petroleum stocks' afternoon decline expanded. Concerns about supply tensions eased, and international oil prices continued to fall.
Petroleum stocks fell in the afternoon. As of press time, Kunlun Energy (00135) fell 3.29% to HKD 8.52; Sinopec (00386) fell 3.17% to HKD 4.88; PetroChina (00857) fell 3.15% to HKD 7.98; CNOOC (00883) fell 2.4% to HKD 22.4.
Petroleum stocks fell generally, Kunlun Energy (00135) fell by 2.61%. Concerns about tight supplies have eased and international oil prices have fallen.
Jingu Finance | Petroleum stocks fell across the board. As of the time of publication, Kunlun Energy (00135) fell 2.61%, PetroChina (00857) fell 2.06%, Sinopec Corp (00386) fell 1.59%, and Sino Oil & Gas (00702) and CNOOC (00883) followed suit. On the news front, Hurricane Belier did not cause significant damage to crude oil production and refining infrastructure along the Gulf of Mexico, easing market concerns about supply shortages and causing international oil prices to fall. Overnight, NYMEX crude oil futures closed at $81.41 per barrel, down 92 cents, or 1.1%, while Brent in London...
Supply Risk Drives Oil Market Upside – TDS
Oil market upside is driven by supply side risk. Meanwhile, the impact to oil supply from hurricane Beryl was less than expected, adding further downward pressure to the market, TDS Senior Commodity Strategist Ryan McKay notes.
GTJA Securities: Crude oil prices continue to trade in line with seasonal expectations.
Last week, crude oil prices continued to remain strong and broke through previous resistance levels. In terms of demand, according to the EIA report, the demand for refined products improved marginally month-on-month and crude oil inventory reduction was better than expected.
Crude Oil Declines on Monday, WTI Faces Familiar Technical Levels as Tropical Storm Fears Ease
Crude Oil Declines on Monday, WTI Faces Familiar Technical Levels as Tropical Storm Fears Ease
The results of the tens of billions of private placement in the first half of 2024 were released, with the champion investing in US stocks and the runner-up favoring high dividends.
The results of the first half of the year for billion-level private equity funds are out. According to data from PEdaily, more than 40% of this year's billion-level private equity funds resulted in positive yields. Due to adjustments in the small-cap index, the average yield of quantitative strategies was significantly lower than that of subjective bullish strategies. Specifically, for the first half of the year, the average revenue for the 79 billion-level private equity funds with performance records was 0.40%. 32 institutions achieved a realized gain, accounting for 40.51%. Among them, 21 billion-level private equity funds had a gain exceeding 5%, with 9 institutions having a gain exceeding 10%, and the highest gain nearly 50%. On the champion and runner-up list, the billion-level private equity fund performance champion was Duan Bin's Orient Harbor Investment.
Dan Bin and Liang Hong are leading the way! Private equity performance in the first half of the year has been released.
Dan Bindongfang Port achieved a 47.92% return rate and won the championship, while Hainan Xiwa achieved a 29.48% return rate and won the runner-up.
Global commodity inventory is in a state of emergency: inventory days of available commodities outside of China experienced the largest month-on-month decline in 31 months.
JPMorgan said that the main reason for this decline was due to the decrease in crude oil and refined product inventories. The global available days of oil and refined products in June decreased sharply by 2.5 days, the largest monthly decline in four years.
Optimistic prospects for interest rate cuts have led to a general increase in major overseas asset classes such as US stocks, gold, silver, and crude oil. Weekly report on major overseas assets.
After the release of non-farm data for the week of July 1-5, the US stock and bond markets rose and the US dollar came under pressure. Upon realizing the 'data detail' that the data in the first two months before non-farm was cut by 0.11 million, US bonds sharply rebounded and the yield curve became steeper.
U.S. Oil Growth Is Slowing. What's Next for Prices. -- Barrons.com
Growing U.S. oil production has played an enormous role in the energy market since the pandemic.
[Brokerage Focus] Morgan Stanley raises CNOOC's target price by 14.6% and maintains a "shareholding" rating.
Morgan Stanley issued a research report stating that due to recent investor preference for high-yielding stocks, capital has flowed into stocks. Since the yield of China's 10-year government bonds is only 2.3%, but CNOOC (00883) in Hong Kong still offers a yield of over 6%, it is believed that the stock still has room for re-rating. The company's target price has been raised by 14.6% from HKD 19.8 to HKD 22.7 with a 'shareholding' rating, based on the expected long-term oil price of $75 per barrel. The bank expects Brent crude oil prices to be $89 per barrel this year and $81.3 per barrel next year.
Major bank rating | Goldman Sachs: Raises CNOOC's H-share target price to HK$22.7, rates it as "shareholding".
Morgan Stanley released a research report stating that investors are recently inclined to shift to high-yielding stocks. Compared with the yield of 2.3% of China's ten-year treasury bonds, CNOOC's H shares currently provide a yield of over 6%, driving capital inflows into the stock and providing room for a re-rating. The bank predicts that CNOOC's performance in terms of costs will continue to outperform the other two oil giants on the mainland. In addition, the company's low-cost operating strategy and good execution record will enable the company to fully benefit from high oil prices. The bank also points out that CNOOC's commitment to dividends per share and payout ratios for fiscal years 2023 to 2024 may indicate
Market concerns are being triggered by the poor implementation of production cuts. OPEC+ urges member countries to make up for quota cheating.
In the effort to support the global oil market, OPEC+ is pushing member countries to make up for cheating on supply quotas. However, there is little indication that they are changing.
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