China's CNOOC plans to lift 2020 capex to highest since 2014
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SINGAPORE (Reuters) - China's offshore oil and gas major CNOOC Ltd is planning to lift capital spending to 85 billion to 95 billion yuan ($12.34 billion-$13.79 billion) this year, the highest since 2014, as it focuses on domestic drilling, it said on Monday. Last year's capex budget was 70-80 billion yuan.The state-owned firm said it is targeting total net oil and gas output this year of 520-530 million barrels of oil equivalent (boe), an increase from last year's estimated output of 503..