CNOOC (CEO) Interest Expense : $-702 Mil (TTM As of Mar. 2024)

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What is CNOOC Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. CNOOC's interest expense for the three months ended in Mar. 2024 was $ -64 Mil. Its interest expense for the trailing twelve months (TTM) ended in Mar. 2024 was $-702 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. CNOOC's Operating Income for the three months ended in Mar. 2024 was $ 7,176 Mil. CNOOC's Interest Expense for the three months ended in Mar. 2024 was $ -64 Mil. CNOOC's Interest Coverage for the quarter that ended in Mar. 2024 was 111.85. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

CNOOC Interest Expense Historical Data

The historical data trend for CNOOC's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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CNOOC Interest Expense Chart

CNOOC Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Expense

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-832.51

-945.36

-942.80

-857.61

-747.18

CNOOC Quarterly Data
	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Interest Expense	Get a 7-Day Free Trial															-114.79	-280.53	124.42	-482.20	-64.15

CNOOC Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-702 Mil.

CNOOC (NYSE:CEO) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

CNOOC's Interest Expense for the three months ended in Mar. 2024 was $-64 Mil. Its Operating Income for the three months ended in Mar. 2024 was $7,176 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Mar. 2024 was $13,359 Mil.

CNOOC's Interest Coverage for the quarter that ended in Mar. 2024 is calculated as

Interest Coverage	=	-1	*	Operating Income (Q: Mar. 2024 )	/	Interest Expense (Q: Mar. 2024 )
	=	-1	*	7175.727	/	-64.153
	=	111.85

The higher the ratio, the stronger the company's financial strength is.

CNOOC (CEO) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » CNOOC Ltd (NYSE:CEO) » Definitions » Interest Expense

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00883:Hong Kong NC2B:Germany 600938:China

Address

1 Garden Road, 65th Floor, Bank of China Tower, Hong Kong, HKG, 999077

Website

https://www.cnoocltd.com

CNOOC is China's main offshore oil and gas exploration and production company. Through its parent company, it has exclusive rights to partner with foreign companies in offshore China projects. Production for 2022 averaged 1.71 million barrels of oil equivalent per day (78.5% oil), and year-end proven reserves were 6.24 billion barrels of oil equivalent, or boe, (73.8% oil). Assets outside China make up around 30.6% of production.