[ad_1]
China National Offshore Oil Corp. pledged higher spending this year as Beijing looks to raise production to safeguard energy security and fuel a rebound in economic growth.
China’s biggest offshore oil and gas driller said capital expenditure will rise to between 100 billion ($14 billion) and 110 billion yuan, from 100 billion yuan in 2022, to fund an increase in output to between 650 million and 660 million barrels of oil equivalent. Cnooc produced 620 million barrels last year.
[ad_2]
Source link