15. INVESTMENTS IN ASSOCIATES
Particulars of the principal associates at the end of the reporting period are as follows:
|
|
|
Nominal value |
|
|
|
|
|
of ordinary shares issued and |
Percentage of equity |
|
|
|
Place of |
paid-up/registered |
attributable to |
|
|
Name of associates |
establishment |
capital |
the Group |
Principal activities |
|
Shanghai Petroleum |
Shanghai, PRC |
RMB900 million |
30% |
Production, processing and technology consultation of oil, |
|
Corporation Limited |
|
|
|
gas and relevant products |
|
|
|
|
|
in the PRC |
|
CNOOC Finance |
Beijing, PRC |
RMB4 billion |
31.8% |
Provision of deposit, transfer, |
|
Corporation Limited |
|
|
|
settlement, loan, discounting |
|
|
|
|
|
and other financing services to |
|
|
|
|
|
CNOOC and its member entities |
|
|
|
|
|
|
To give details of other associate would, in the opinion of the Directors, result in particulars of excessive length.
The Group’s investments in associates represent:
|
|
2016 |
2017 |
|
Share of net assets |
3,695 |
4,067 |
None of the Group’s associates are considered to be individually material. The following table illustrates the summarized financial information of the Group’s associates in the consolidated financial statements:
|
|
2015 |
2016 |
2017 |
|
|
|
|
|
|
|
|
Profit/(loss) for the year |
256 |
(609) |
302 |
|
|
Other comprehensive income/(expense) |
74 |
(127) |
36 |
|
|
Total comprehensive income/(expense) |
330 |
(736) |
338 |
|
Dividend of RMB116 million was received from the associates in 2017 (2016: RMB135 million).