CNOOC Ltd in capex cut

CNOOC Ltd plans to cut capital expenditure by at least 14% this year as the E&P unit of state-run giant China National Offshore Oil Corporation tightens its belt amid low oil prices.

Cost-cutting: CNOOC Ltd chief Li Fanrong
Cost-cutting: CNOOC Ltd chief Li Fanrong
Published 19 January 2016, 10:15Updated 19 January 2016, 10:19
Asia & Oceania