(Sinopecnews.com, Dec 30, 2006) UBS Securities forecasts that China National Offshore Oil Corp. (CNOOC)¡¯s earnings per Share (EPS) are expected to increase by 8 to 10 per cent in 2008.

The Standing Committee of the National People's Congress, China¡¯s top legislature, announced in its draft to unify income tax rates for domestic and foreign companies at 25 per cent. CNOOC will benefit a lot from the new tax policy, as its actual tax rate is close to 31 per cent, the highest one among the three state-owned oil companies, according a report published by UBS Securities.
source:Sinopecnews.com
Drawn from Chinese language press