Despite lower international oil prices, Chinese state-held oil and gas giant CNOOC reported on Monday its highest-ever profit for the third quarter, on the back of record oil and gas production. CNOOC, which specializes in offshore oil and gas developments in China and internationally, booked a net profit of $5.2 billion (36.93 billion Chinese yuan) for the third quarter, up by 9% compared to the same period of 2023. CNOOC focuses on oil and gas exploration and production and, unlike the other major Chinese state-owned oil giants such as PetroChina,…
