China National Petroleum Corporation

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China National Petroleum Corporation
CNPClogo.jpg
Founded 1988
Headquarters Dongcheng District, Beijing, China
Key People Jiang Jiemin President
Employees 1,618,000
Products Oil (fuels, lubricants), Natural Gas, Petrochemical, Oil Exploration Services, Oil Exploration Equipments
Website www.cnpc.com
Releases Company News

China National Petroleum Corporation (CNPC) is China's largest oil and gas producer and supplier, as well as one of the world's major oilfield service providers and a globally reputed contractor in engineering construction, with businesses covering petroleum exploration & production, natural gas & pipelines, refining & marketing, oilfield services, engineering construction, petroleum equipment manufacturing and new energy development, as well as capital management, finance and insurance services.[1]

History

The predecessor of CNPC was the Ministry of Petroleum Industry of the People's Republic of China, which was founded in July 1955, supervising the exploration and development of oil and gas resources in China.

China National Petroleum Corporation was established on September 17, 1988 on the basis of the Ministry of Petroleum Industry, mainly in charge of oil and gas upstream operations. It is a state oil company endowed with certain governmental administrative functions.[2]

On July 27, 1998, the CNPC was reorganized to become an integrated group with businesses covering oil and gas upstream and downstream operations, as well as oilfield services and engineering construction.

PetroChina (a holding company) was established under the company law and the special regulations on the overseas offering and listing of shares by Joint Stock Limited Companies on November 5, 1999.[3] The American Depositary Shares (ADS) and H shares of PetroChina were listed on the New York Stock Exchange on April 6, 2000 and the Stock Exchange of Hong Kong on April 7, 2000 respectively. It was listed on the Shanghai Stock Exchange on November 5, 2007. By the end of 2007, China National Petroleum Corporation possessed 86.29% of PetroChina shares.

Products and Services

CNPC is an integrated international energy company with businesses and operations covering:

  • Oil and gas exploration & production, refining & chemicals, natural gas & pipelines and marketing & trading
  • Oilfield services in geophysical prospecting, well drilling, well logging and downhole operation
  • Oil and gas field surface engineering, pipeline construction and refining & chemical plant construction
  • Manufacturing of prospecting facilities, drilling and recovery equipment, specialized tubular goods and power equipment
  • Capital management, finance and insurance services
  • Unconventional oil and gas resources, biomass energy and other renewable energies

Key People

References

  1. China National Petroleum Corporation Company Profile. Businessweek.
  2. CNPC History. China National Petroleum Corporation.
  3. China National Petroleum Corporation (CNPC) Description. Chinacp.org.