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.
More Quotes from Fu Chengyu:
We can see from the later market performances that CNOOC has chosen a very good opportunity to withdraw,Fu Chengyu
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.
Fu Chengyu
The Chinese people and government are learning from the U.S.,
Fu Chengyu
Offshore China output is in line with 19 percent full-year growth target.
Fu Chengyu
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).
Fu Chengyu
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