The hottest low oil price caused the first loss in

2022-08-14
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Low oil prices caused the first loss in the semi annual report. CNOOC's mixed reform delineated the pilot direction

it is very necessary for CNOOC, which is in a loss, to try a new round of reform and eliminate the team

On August 11, CNOOC approved the "mixed ownership reform and employee incentive plan for safety, technology and service". Yang Hua, leader of CNOOC's leading group for deepening reform, pointed out that CNOOC should strengthen the promotion of reform and make full use of the reform policies of state-owned enterprises. We can choose the reform pilot objects similar to safety technology service companies, carry out the first trial, and actively explore the pilot of mixed ownership reform and employee dividend shareholding in scientific and technological enterprises

In the first half of this year, CNOOC suffered its first semi annual loss since 2001. Yang Hua once said at the CNOOC internal meeting that the new normal of low oil prices has put the company under extremely severe production and operation pressure, and it is necessary to explore the survival of the company and whether it can survive

CNOOC, once known as the most innovative of the three barrels of oil, has had to start a new round of reform pilot after encountering a severe economic situation

On August 9, Yang Hua presided over the 14th meeting of the deepening reform leading group of the head office. At the meeting, the mixed ownership reform and employee incentive plan for safety, technology and service was reviewed and approved

Yang Hua stressed that the reform plan of CNOOC Safety Technology Service Co., Ltd. is in line with the direction of the state to promote the reform of state-owned scientific and technological enterprises, in line with relevant reform policies, and the conditions for implementing the reform are mature, and has strong demonstration and guidance

Yang Hua said that we should strengthen the promotion of corporate reform and make full use of the reform policies of state-owned enterprises. "We can choose the reform pilot objects similar to safety technology service companies, carry out the first trial, actively explore the pilot of mixed ownership reform of scientific and technological enterprises and employee dividend shareholding, increase investment in talent development, mobilize the enthusiasm, initiative and creativity of all kinds of talents through reform, and stimulate the vitality of all kinds of elements." Yang Hua said

in addition, CNOOC also launched a special treatment work to "reduce" and dispose of "zombie enterprises" and enterprises in extreme poverty

On the morning of August 10, CNOOC held the kick-off meeting of "reducing the management level and the number of legal persons" and the special treatment of "zombie enterprises" and extremely poor enterprises. Liu Jian, general manager of CNOOC, pointed out that in terms of the number of legal persons, in addition to taking the initiative to "subtract", it should also strictly control the "addition", strictly control the new legal persons, encourage the development of new businesses by reorganizing the original companies, and avoid adding new legal persons and management levels

the first loss in the semi annual report

for CNOOC, whose main business is in the upstream field, the low oil price has made its trade cooperation with China on the agenda seriously hit, which is also an important reason for forcing it to promote reform

due to the loss of deformation layer

recently, CNOOC announced on the Hong Kong stock exchange that it expected to lose 8 billion yuan (equivalent to 1.2 billion US dollars) in the first half of this year, while it made a profit of 14.7 billion yuan in the same period of 2015. According to the data, this is the first semi annual loss of CNOOC since its listing in 2001

CNOOC is the main business entity and listed company of CNOOC. Previously, in 2015, CNOOC's net profit was 20.25 billion yuan, a year-on-year decrease of 66.4%. As of December 31, 2015, CNOOC had total assets of about 664.4 billion yuan

in addition to CNOOC, other listed companies under CNOOC and overseas projects are operating poorly

on the evening of July 25, COSL announced that it expected a loss of about 8.4 billion yuan in the first half of the year, of which the accrued asset impairment loss was about 7.1 billion yuan, becoming the new "king of losses in advance" of a shares. The net profit attributable to the shareholders of the listed company in the same period last year was 895 million yuan

on June 29, CNOOC petrochemicals announced that the parent company's equity should account for a net loss of 150million yuan to 200million yuan in the first half of this year, mainly because the domestic and foreign market environment in the first half of the year was severe, so the market prices of the company's main products, namely urea, phosphate fertilizer and methanol, remained depressed

in addition, overseas projects such as CNOOC's Canadian oil sands assets and Norwegian projects also dragged down its performance

eliminate the "roadblock"

corruption has always been a roadblock to the development of the three major domestic oil companies. At present, CNOOC is also actively cleaning up the team

last September, CNOOC issued a notice on the inspection and rectification. The notice shows that since the central inspection in March, the company has investigated 29 people who violated discipline and regulations, such as bidding, project subcontracting, recruitment and employment, and honest and clean employment. They were given party and government disciplinary sanctions and organizational treatment respectively, and 4 people were subject to judicial treatment

after exhausting the air, turn back the screw plug: start the oil pump and lift the piston repeatedly to exhaust the air in the oil cylinder and oil pipe. The notice also shows that it is common for CNOOC staff to rely on CNOOC resources for personal gain. The inspection team pointed out that since 2003, a total of 40 cadres at or above the section level have left CNOOC to run the company and do business with CNOOC. CNOOC also said that the Party group seriously carried out a special inspection on the use of CNOOC resources by the spouses, children and relatives of leaders

at present, CNOOC has three fallen tigers, all of whom are "veterans" who have served for more than 30 years. Among them, Luo Weizhong, general manager of Shouhu CNOOC, was accused of taking bribes with his daughter

it is understood that CNOOC's problems are mostly found during the central inspection. In September 2015, the notice of the Party group of the Communist Party of China National Offshore Oil Corporation on inspection and rectification disclosed the rectification of CNOOC's illegal purchase of Jinhu resort to support the "village"

the Party group of CNOOC said, "recognizing that the acquisition of Jinhu resort seriously violates the spirit of the central government's notice on stopping the construction of new buildings and offices and cleaning up office space", and will carry out a special audit on the acquisition process of Jinhu

in addition to eliminating the team, CNOOC has also made adjustments to its executives recently

recently, it was learned from CNOOC that the company had three new executives. According to the study and decision of the Party committee of the state owned assets supervision and Administration Commission of the State Council, Yuan Guangyu and Chen Bi were appointed as deputy general managers and members of the Party group of China National Offshore Oil Corporation, and Wen dongfen was appointed as the chief accountant and member of the Party group of China National Offshore Oil Corporation; Wu Mengfei will no longer serve as chief accountant and member of the Party group of China National Offshore Oil Corporation

"for oil companies that have been monopolized for a long time, when they encounter market downturn, all kinds of hidden problems will be highlighted, and this is a good time for reform and rectification." Insiders say so

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