China’s second largest oil and gas producer, CNOOC, is aiming to cut production by 3.4 to 5.5 per cent this year, the second annual decline in a row after 15 years of strong growth. Photo: AP

CNOOC expects second consecutive output decline, slashes 2018 target

China’s dominant offshore oil and gas producer, sets target of producing the equivalent of 450-460 million barrels of oil this year, 5-7pc lower than projections made a year ago

Topic |   Energy

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China’s second largest oil and gas producer, CNOOC, is aiming to cut production by 3.4 to 5.5 per cent this year, the second annual decline in a row after 15 years of strong growth. Photo: AP
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