China’s CNOOC Saw Profits Plunge in 2023 Due to Lower Oil Prices

China’s state-held oil and gas giant CNOOC said on Thursday that its net profit for 2023 slipped by 12.6% from a record-high level in 2022, due to the decline in international oil prices.   CNOOC, which specializes in offshore oil and gas developments in China and internationally, reported a net profit attributable to shareholders of the company of $17.2 billion (123.8 billion Chinese yuan) for 2023, down from the all-time high of $19.7 billion (141.7 billion yuan) booked for 2022, when oil prices exceeded $100 per barrel after…