On January 14, COSL announced that according to the company's production and operation in 2020, the company's board of directors issued the following strategic guidelines for 2020:

 

According to the third-party data such as IHS Markit, the total capital expenditure of global oil and gas exploration and development will continue to grow in 2020. At the same time, China's domestic market will continue to increase investment in exploration and development in the next few years, and the demand for oil and gas storage and production will increase. In this context, COSL will enter the fast lane of enterprise development in 2020.

 

Under the background of domestic and foreign market demand recovery, the company will actively participate in accelerating exploration and development in 2020, and strive to continue to maintain good business performance and further improve the company's development quality.

 

It is worth noting that COSL's revenue in 2018 was 21.9 billion yuan, a year-on-year increase of 25.29%; the net profit attributable to shareholders of listed companies was 70.8 million yuan, a year-on-year increase of 65.54%. Although the results for 2019 have not yet been announced, it is certain that the investment of 4.8 billion yuan in 2020 shows that COSL is confident in the development of the market in the new year.

 

Source:Sarah Yu,XINDE MARINE NEWS

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