CNOOC lifts annual output target, bets on strong fourth quarter

By Li Tao and Sophie He | China Daily | Updated: 2012-10-25 04:39

A CNOOC Ltd offshore oil platform in the South China Sea. The group produced 87.8 million barrels of oil equivalent in the three months through Sept 30 this year. Zhao Liang / for China Daily

CNOOC Ltd, the largest offshore oil and gas producer in China, raised its annual output target to between 335 and 345 million barrels of oil equivalent for 2012 from the 330 to 340 million BOE target set earlier, as the company is betting on strong growth in the fourth quarter of the year.