CNOOC raises COSL stake to 51.02 percent: what it means for CNOOC Limited stock

Published on 10/06/2026 at 14:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue rose 16.90 percent to RMB 242.7 billion. The 16 analysts set a 27.06 CNY average target for CNOOC Limited stock.

CNOOC Ltd., HK0883013259, Illustration mit AI erstellt.

CNOOC Limited (ISIN HK0883013259) is linked to a controlling-stake increase that reached 51.02 percent in China Oilfield Services by September 28, 2026. According to Futunn, CNOOC Group held 2.4345 billion China Oilfield Services shares after buying 405,000 A shares and 5.0 million H shares between September 24 and September 28.

COSL stake reaches 51.02 percent

The transactions formed part of a broader purchase plan running until April 8, 2027, with cumulative spending planned between RMB 300 million and RMB 500 million. The stake increase gives CNOOC Group a stronger position in the oilfield-services business while keeping the listed parent linked to continued capital deployment in the energy chain.

First-half profit climbs 23.40 percent

FilingReader reported on September 8, 2026 that CNOOC's revenue rose 16.90 percent year over year to RMB 242.7 billion in the first half of 2026. Net profit attributable to equity shareholders increased 23.40 percent to RMB 85.8 billion, while operating cash flow rose 29.70 percent to RMB 141.6 billion.

Production reached 398.7 million barrels of oil equivalent in the first half of 2026, up 3.70 percent year over year. The board also declared an interim dividend of HKD 0.94 per share, while the all-in cost stood at USD 29.7 per barrel of oil equivalent and the gearing ratio was 7.30 percent as of June 30, 2026.

Market value and yearly range

On October 6, 2026, CNOOC Limited had a market capitalization of HKD 1.1 trillion. Its 52-week trading range was HKD 18.42 to HKD 30.98, placing the latest HKEX market reference inside a wide 12.56 HKD spread.

The company is listed as HKEX:0883 and operates across exploration, development, production and sales of crude oil and natural gas. The combination of 23.40 percent first-half profit growth and the 51.02 percent COSL holding gives the stock two measurable angles: cash generation from upstream operations and greater control of an oilfield-services affiliate.