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China National Offshore Oil Corporation (CNOOC Group)

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.

Ranking position
#69/100
Total score
2.9/100
Performance score
1.2/20
Narrative Score
ABCDE
Trend Score
  • Trend line is up
  • Trend line is equal
  • Trend line is down
Performance module name Performance module score Rank (0-100)

Targets

0.0 /100 #38

Material Investment

2.4 /100 #68

Intangible Investment

0.0 /100 #20

Sold products

5.4 /100 #29

Management

30.3 /100 #54

Supplier Engagement

0.0 /100 #57

Client Engagement

5.0 /100 #39

Policy Engagement

20.0 /100 #47

Business Model

0.0 /100 #52

Leading practices

No leading practices were identified for this company.

Risks and opportunities

Trend

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.

Progress towards the Paris Agreement

More about the company

Headquarters
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
19,436
Scope of activity
Integrated
Website
https://www.cnooc.com.cn/