CNOOC sets bullish tone for the rest of Chinese oil companies, WoodMac says

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Announcing its strategic plan for 2019, CNOOC Ltd has set a bullish tone for the rest of the Chinese national oil companies to follow, according to Wood Mackenzie, an energy intelligence group.

To remind, CNOOC Ltd earlier this week in its business strategy and development plan said it was targeting a steady increase in oil and gas production during 2019 and the following years.

Wood Mackenzie’s senior analyst, Maxim Petrov, on Friday shared his views on CNOOC’s strategy.

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