CNOOC H1 profits
up by 7.9% after Nexen acquisition
 |
| David Nealis President of Ceres Ltd. |
China National
Offshore Oil Corp (CNOOC) announced that its net profits for the first half of
this year increased by 7.9%. This was partly due to greater output of oil
and gas following its acquisition of Nexen Inc of Canada for US$15.1 billion in
February. CNOOC CEO Li Fanrong said that they are now seeking integration of
Nexen into CNOOC and plan to apply for a listing on the Toronto Stock Exchange.
China, the world’s 2nd
largest economy, continues to be the most important market for companies
looking for growth and Chinese companies continue to globalize by investing and
selling their products in new markets; what is your company’s strategy for engaging China?
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Trading futures and options involves the risk of loss. You should consider carefully whether futures or options are appropriate to your financial situation. You must review the customer account agreement and risk disclosure prior to establishing an account. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of futures results. The risk of loss in trading futures or options can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.
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