CNOOC Limited
HKG:0883 ISIN:HK0883013259
CNOOC Limited is a producer of offshore crude oil and natural gas and an independent oil and gas exploration and production company. It mainly engages in oil and natural gas exploration, development, production and sales. The Company has four major oil production areas offshore China: Bohai Bay, western South China Sea, eastern South China Sea and East China Sea. It is an offshore oil producer in Indonesia. The Company also has certain upstream assets in regions, such as Africa and Australia. As of December 31, 2007, the Company owned net proved reserves of approximately 2.6 billion barrels-of-oil (BOE) equivalent and its average daily net production was 469,407 barrels-of-oil equivalent.
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Asian shares were lifted on Tuesday after strong U.S. manufacturing data. Japan's Nikkei index ended 1.63 percent higher, after Toyota's plans to fix millions of vehicles equipped with faulty accelerators in North America and Europe. Australian shares climbed as metals prices rose, but Australian dollar was pulled down by RBA's unexpected decision to keep interest rate unchanged.
Asian investors continued cautious trading on Thursday amid ongoing debt jitters. Most Asian shares reversed to positive territory after some small drops at opening. Yesterday bourses across the region were hit by a series of credit rating downgrade. Japan's Nikkei fell 1.3 per cent, Hong Kong's Hang Seng Index dropped 1.4 per cent, and China's Shanghai Composite was down 1.7 per cent.
Asian markets mostly opened higher this morning, but reversed early gains after profit taking selling. Tokyo market fell in a choppy trade despite a positive support from Wall Street. This is largely due to a stronger yen and worries over some corporate financing plans. Korean market was down as foreign investors continued to offload Seoul stocks.
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