With the upstream industry as the core, China CNOOC actively expands and constantly improves the industrial chain, and is developing from a simple upstream business company to an integrated upstream and downstream energy company. China CNOOC has now formed six business segments, namely, oil exploration, development and production, professional technical services, base services, fertilizer, natural gas, power generation and financial services, showing a good development trend of benign interaction among the segments.
In 2004, the output of China Offshore Oil Corporation continued to grow, with sales revenue of 70.92 billion yuan, profits of 24.22 billion yuan and taxes paid of 654.38+0.209 billion yuan, up by 32%, 62% and 80% respectively over the previous year. By the end of 2004, the company's total assets increased to 65.438+05.326 billion yuan, and its net assets reached 83.06 billion yuan, up 28% and 26.5438+0% respectively compared with the beginning of the year. The total profit of the company ranks fifth among central enterprises, and the total assets rank 12 among central enterprises. China CNOOC's good development performance has won the full recognition of the capital market. Standard & Poor's and Moody's, the international authoritative credit rating agencies, rated the company BBB+ and A2 respectively, which is equivalent to China's sovereign rating, which is also the highest external authoritative rating obtained by China company at present.
In 2004, the oil and gas exploration and production of China Offshore Oil Corporation continued to develop steadily. In 2004, the company's total oil and gas output reached 36.48 million tons of oil equivalent, an increase of 365.438+200,000 tons compared with 2003, with an increase of 9%. Among them, the domestic crude oil output was 24.72 million tons, an increase of 1 1% compared with last year, faster than the national growth rate of 3%. For the first time, the annual output of Bohai Sea exceeded10 million cubic meters of oil equivalent, thus Bohai Oilfield became the second largest mining area in China after the eastern part of the South China Sea and an important energy production base in northern China.
While the upstream business steadily increased production, the middle and lower reaches of China CNOOC also achieved a bumper harvest. With the increasingly fierce competition in the domestic LNG market, the company has signed all the middle and lower reaches commercial contracts of Guangdong and Fujian LNG projects, laying a solid foundation for the smooth operation of the projects after completion. LNG projects in Zhejiang and Shanghai have also entered the formal implementation stage, and the company has also signed cooperation frameworks for LNG projects with Liaoning, Tianjin, Hebei, Hainan and Jiangsu. So far, the company has initially completed the strategic layout of the coastal natural gas industry south of the Yangtze River.
In April, CNOOC Sinopec United International Trade Co., Ltd. was officially approved by the Ministry of Commerce and granted the right to import and operate state-owned crude oil. In May-June, two115438+02 floating production storage and unloading vessels (FPSO) with tonnage of13 were completed and put into use within one month, creating new ones in terms of construction period, cost and quality. In July, Nanhai Petrochemical Refining Project with a scale of120,000 tons was approved by the state, and CNOOC officially entered the refining field, making the company's upstream and downstream integrated industrial layout a reality.
In 2004, China CNOOC's three listed companies performed well. In that year, the stock of China Offshore Oil Co., Ltd. rose by 37%, and its market value reached 1, 865,438+68 million yuan. The stock of CNOOC Engineering Company rose by 66. 1.0% for the whole year, and the total market value of cosl reached 1.0 1 billion yuan. By the end of 2004, the total market value of the three listed companies was close to 200 billion yuan, 3.3 times of the net assets, and the state-owned assets were effectively maintained and increased.
In 2005, China Offshore Oil Corporation will continue to strive to complete the exploration and development tasks, actively expand overseas resources, steadily develop its business in the middle and lower reaches, further promote the construction of modern enterprise system, and strive to achieve the goal of "building a comprehensive energy company with fast development speed, strong profitability, good development quality and international competitiveness, and building a modern enterprise system in an all-round way by 2008". On this basis, we will build a world-class comprehensive energy company. "Strategic goals.