CNOOC profits decline on trucked LNG sales, CNPC eases losses

China National Offshore Oil Corp.’s profits from sales of trucked LNG from supply terminals fell in November, as a result of expensive imports of the fuel from Qatar.
By Tang Tian 11 January 2013 0 3576

China National Offshore Oil Corp.’s (CNOOC’s) profits from sales of trucked LNG from supply terminals fell in November, as a result of expensive imports of the fuel from Qatar.

CNOOC’s profits from trucked LNG at the Dapeng terminal fell by 2.29% month-on-month to RMB 1,877 ($302) per ton. Dapeng received 92,700 tons from Qatar in November, valued at $17.74 per million Btu (MMBtu), according to Li Lingxuan, an analyst with Zhuochuang Information in Shandong province.

The company’s losses at the Ningbo terminal deepened, from RMB 1,805/t in...

Log in or register for a free trial to continue reading this article

Already a subscriber?

If you already have a subscription, sign in to continue reading this article.

Log me in

Not a subscriber?

Sign up for 7-day trial access to this and more premium content. It's free.

Sign up now