CNOOC will become more active in exploring offshore China and overseas in 2006. |
Fluctuations in international oil prices are beyond China's control. We can only make sure the supply and production remain stable. |
Many factors, including politics, are keeping the price up. It would be hard for oil prices to fall below US$50 a barrel this year. |
Offshore China output is in line with 19 percent full-year growth target. |
The Chinese people and government are learning from the U.S., |
The company has considerably enhanced its production, reserves and net profit. |
The company will reach a fast- growing phase over the next few years, which will require high capital investments, so we decided to reserve cash for future development. |
We are bound together with most of the oilmen in this room. |
We are confident that tight and well-scheduled operations with sufficient capital expenditure will lead to more solid growth in reserves and production, securing stronger long-term growth for the company. |
We can see from the later market performances that CNOOC has chosen a very good opportunity to withdraw, |
We hope (the) oil price will stay as high as today. The company will keep the production growth and contain costs (in the second half). |
We will fully implement our strategy in the retail market. |
We're moving very fast on drilling projects, to access the potential reserves. |