Oil Price Hike Boosts CNOOC Revenue

Q1 production up 26.6 percent CNOOC Limited＇s first-quarter production increased 26.6 percent to 85.2 million barrels of oil equivalent compared with the same period last year. Output at the Jinzhou 25-1 project commenced in the first quarter, CNOOC said in the statement. The company plans to start Jinxian l-1 in the first half and begin production at Weizhou 1 l-2 and Lufeng 13-2 in the second half. All the projects are off China＇s eastern coast.