COSL posts strong H1 2025 results, revamps governance for shareholder value

China Oilfield Services (COSL) saw its operating revenue rise 3.5% to 23,320.3 million yuan, with net profit attributable to shareholders climbing 23.3% to 1,963.8 million yuan for the first half of 2025. This growth was attributed to higher drilling and vessel utilization rates. Concurrently, COSL's board approved the cancellation of its supervisory board, with the audit committee taking on its duties, aligning with new regulatory guidelines to streamline governance.

The company also introduced a "Quality Improvement and Return Enhancement" action plan for 2025. This plan focuses on operational efficiency, international market expansion, cost reduction, and technological innovation. Key initiatives include strengthening core competitiveness through equipment upgrades and R&D in unconventional oil and gas, along with deeper cost-reduction efforts. COSL aims for steady long-term investment returns, targeting a 2024 cash dividend exceeding 1.1 billion yuan and committing to transparent investor communication.