China Oilfield Services Class H ( (CHOLF) ) has released its Q2 earnings. Here is a breakdown of the information China Oilfield Services Class H presented to its investors.
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China Oilfield Services Limited, a subsidiary of China National Offshore Oil Corporation (CNOOC), is a leading provider of oilfield services including drilling, well services, marine support, and geophysical acquisition, primarily operating in the energy sector across various international markets.
In its latest earnings report for the first half of 2025, China Oilfield Services Limited reported a revenue of RMB23,295.1 million, marking a 3.5% increase from the previous year. The company also saw a rise in profit before tax to RMB2,572.1 million, a 6.8% increase, and a net profit of RMB2,076.8 million, up by 21.5% compared to the same period last year.
Key financial highlights include a significant increase in the drilling services segment, which generated RMB7,231.4 million in revenue, a 12.8% rise from the previous year. This growth was driven by high global demand for drilling rigs, particularly in emerging markets, and the company’s strategic focus on enhancing operational efficiency and deepwater capabilities. Additionally, the company’s international projects, such as the high daily-rate project in the North Sea, contributed to improved profitability.
Despite the volatile international oil prices and a complex market environment, China Oilfield Services Limited has managed to adapt by focusing on lean management and customer-centric strategies. The company continues to explore growth opportunities in deepwater and deep-layer oil and gas exploration, positioning itself for sustained growth in the evolving energy market.
Looking ahead, the management of China Oilfield Services Limited remains optimistic about the company’s prospects, emphasizing continued investment in technology and operational excellence to capitalize on emerging market opportunities and maintain its competitive edge in the global oilfield services industry.