China’s CNOOC Limited (NYSE “CEO”, SEHK “883”) last week announced its annual results for the year ended December 31, 2002. It generated oil and gas revenues of Rmb 23.8 billion (US$2.9 billion), an increase of Rmb 6.2 billion (US$751 million), or 35.4% up from 2001. Revenue growth was mainly attributable to a 32.6% production increase,…