China National Offshore Oil Corporation
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The company headquarters in Beijing was opened in 2006
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Native name
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中国海洋石油总公司 |
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Romanized name
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Zhōngguó Háiyáng Shíyóu Zǒnggōngsī |
| State-owned enterprise | |
| Industry | Oil and gas |
| Founded | 1982 |
| Headquarters | Beijing, China |
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Key people
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Wang Yilin (Chairman) Li Fanrong (CEO) |
 CN¥52,943 billion (2014) |
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| Total assets |
CN¥1.119 trillion (2014) |
| Total equity |
CN¥461.378 billion (2014) |
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Number of employees
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98,750 (2011) |
| Subsidiaries |
CNOOC Limited China Oilfield Services |
| Website | www |
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Footnotes / references source |
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China National Offshore Oil Corporation, or CNOOC Group (Chinese: 中国海洋石油总公司 Pinyin: Zhōngguó Háiyáng Shíyóu Zǒnggōngsī), is a major national oil company in China. It is the third-largest national oil company in the People's Republic of China, after CNPC (parent of PetroChina) and China Petrochemical Corporation (parent of Sinopec). The CNOOC Group focuses on the exploitation, exploration and development of crude oil and natural gas in offshore China.
The company is owned by the government of the People's Republic of China, and the State-Owned Assets Supervision and Administration Commission of the State Council (SASAC) assumes shareholder rights and obligations on the government's behalf. One subsidiary, CNOOC Limited, is listed on the ; the other, China Oilfield Services, is listed on the Hong Kong and exchanges.
When the State Council implemented the regulation of the people's petroleum resources in cooperation with foreign enterprises on January 30, 1982, CNOOC was incorporated and authorized to assume overall responsibility for the exploitation of oil and gas resources of offshore China in cooperation with foreign partners, which ensured monopoly status for CNOOC in offshore oil and natural gas. With its headquarters in Beijing, CNOOC registered with capital of RMB 94.9 billion and has more than 98,750 employees.
In June 2005 a CNOOC Group company (NYSE and Hong Kong-listed public company CNOOC limited) made an $18.5 billion cash offer for American oil company Unocal Corporation, topping an earlier bid by ChevronTexaco. Unocal's oil interests in Central Asia were considered a strategic fit for the company. On July 20, 2005 Unocal announced that it had accepted an buyout offer from ChevronTexaco for $17.1 billion, which was submitted to Unocal stockholders on August 10. On August 2 CNOOC Limited announced that it had withdrawn its bid, citing political tensions in the United States.
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