The offshoot of China National Offshore Oil Corporation (CNOOC) posted net profit in the six months to the end of June of 14.73 billion Chinese yuan ($2.3 billion) as compared with 33.59 billion yuan a year earlier.
Revenues were chopped from 138.8 billion yuan to 89.59 billion yuan as the price of oil and gas sank in the period – oil and gas sales alone were down 34.2%
