Oct. 26 (Bloomberg) -- Cnooc Ltd., China’s largest offshore energy producer, advanced to the highest level in seven weeks after it reported a 24 percent gain in third-quarter revenue.
The American depositary receipts of the Beijing-based company rose 3.2 percent to $185.10 at 10:40 a.m. New York time. They earlier gained as much as 6.2 percent to $190.38, the highest intraday level since Sept. 2.
Cnooc’s third-quarter revenue rose 24 percent from a year earlier to 46.3 billion yuan ($7.3 billion) as higher crude prices countered a drop in output, it said in a statement today.
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