China National Offshore Oil Company (CNOOC) is a publicly listed integrated oil and gas company headquartered in China, with majority state ownership. In 2019, it had USD 107.46 billion in revenue and a reported 19,436 employees in 2020*. CNOOC is one of the largest independent oil and gas exploration and production companies in the world. CNOOC has stated no quantified targets to reduce emissions.
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No leading practices were identified for this company.
CNOOC receives a trend score of -. If the company were reassessed in the near future, its score would likely decrease. This company lacks a robust transition plan with clear and measurable targets to achieve the low-carbon ambitions that the company aspires towards by 2050.
The company’s increasing oil and gas sales volumes, combined with the lack of evidence of a reduction in its scope 1 and 2 emissions, suggests that the company has increasing absolute greenhouse gas emissions. With no quantified emissions reduction targets and no clear plans for low-carbon business activities, the company is not on track to achieve a low-carbon transition aligned with its 1.5°C pathway.
More about the company
- Beijing, China
- Group revenue
- (2019) RMB 750.9 billion (USD 107.46 billion)
- Ownership structure
- Publicly listed with majority owned by governement
- Number of employees
- Scope of activity