Coal firm makes bond payment missed in June CNOOC reports loss amid weak oil prices

A Chinese coal company made a full bond payment it missed in June, in another sign that conditions are improving in the onshore note market this month. Sichuan Coal Industry Group LLC, based in the southwestern province of Sichuan, said it transferred all the money to a custodian agency on Wednesday, according to a statement on Chinamoney website. The funds include 1.057 billion yuan ($159 million) for principal and interest and 9.325 million yuan for a penalty fee, the statement said. China National Offshore Oil Corp Ltd forecast a substantial loss for the first half of 2016 on Thursday. According to a preliminary estimation, the net loss attributable to equity shareholders could be about 8 billion yuan ($1.2 billion) from January to June, CNOOC said in a profit warning announcement. The largest offshore oil and gas producer in China attributed the expected loss mainly to the further decline in crude oil prices compared with the same period last year.