0276.Hk
CNOOC Limited (0276.HK) is an integrated oil and gas company engaged in the exploration, development, production, and sale of crude oil and natural gas.
Business. CNOOC Limited (0276.HK) is an integrated oil and gas company engaged in the exploration, development, production, and sale of crude oil and natural gas.
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- Peers
- EarningsQ3 2026 earnings (expected)2026-10-28 · estimated · BP (BP)
- EarningsQ3 2026 earnings (expected)2026-10-30 · estimated · Chevron (CVX)
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
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Synthesis
CNOOC Limited (0276.HK) is an integrated oil and gas company engaged in the exploration, development, production, and sale of crude oil and natural gas.
CNOOC's capital structure is highly leveraged, with total liabilities of HKD 71.52 billion and total equity of HKD -4.08 billion, resulting in a debt-to-equity ratio of -1.33. The company's liquidity position is weak, as indicated by a current ratio of 0.25, and its free cash flow is negative at HKD -1.41 billion, despite positive operating cash flow of HKD 320.69 million.
Profitability metrics show mixed results. The company reported a gross profit of HKD 851.17 million, but operating income was negative at HKD -540.94 million, and net income was HKD -1.38 billion. Return on equity is high at 33.77%, but this is misleading due to the negative equity base. Return on assets is negative at -44.76%, indicating poor asset utilization.
CNOOC's revenue is primarily concentrated in its domestic operations in China, with no disclosed breakdown of geographic or segment revenue in the latest financials. The company's exposure to international markets is not specified, and there is no indication of diversification across product lines or regions.
The company's growth trajectory is uncertain. While operating cash flow is positive, free cash flow is negative, and capital expenditures are modest at HKD -120.51 million. There is no disclosed revenue growth or decline in the latest period, and no forward-looking guidance is provided in the available data.
Risk factors include a weak liquidity position, with net cash negative after subtracting total debt, and a high debt-to-equity ratio. The risk of dilution is currently low, and no adjustments to valuation have been applied in the custom valuations. However, the company's negative equity and high leverage increase its vulnerability to market and credit risks.
Recent events include the latest financial filing, which shows a significant net loss and negative equity. No recent earnings call transcripts or other disclosures are available in the provided data to provide further insight into the company's strategic direction or operational performance.
- CNOOC has a highly leveraged capital structure with a negative equity position and a debt-to-equity ratio of -1.33.
- The company reported a net loss of HKD 1.38 billion and a negative return on assets of -44.76%.
- Free cash flow is negative at HKD -1.41 billion, despite positive operating cash flow of HKD 320.69 million.
- Revenue concentration and geographic exposure are not disclosed in the latest financials.
- Liquidity risk is medium, and the company's net cash is negative after subtracting total debt.
- No recent earnings call transcripts or forward guidance are available to assess the company's strategic direction.
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- Net cash is negative after subtracting total debt.
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Physical assets
2 tracked| Asset | Type | Commodity | Country | Role |
|---|---|---|---|---|
| Khushuut Coal Mine | Other | Coal | Mongolia | Operating company |
| Khushuut Coal Mine | Mine | Coal | Mongolia | Operating company |
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- 0276.HK Market data — financials · 2026-05-26