China National Petroleum Corporation

Exclusive: oil chief quizzed over massive cash transfers in Ferrari crash cover-up

Jiang Jiemin, who allegedly doled out CNPC cash.

The chairman of China's biggest oil and gas producer has been questioned by the Communist Party's top discipline watchdog in relation to the Ferrari crash in Beijing earlier this year that claimed the life of the only son of Ling Jihua, party general secretary Hu Jintao's

Tuesday, 3 September, 2013, 12:58pm 5 comments

China protests at US bank sanctions

Beijing yesterday reacted furiously to new Washington sanctions imposed on a Chinese bank owned and run by China National Petroleum Corporation (CNPC) over transactions with Iran.

The Foreign Ministry said it would lodge an official protest and warned that America's move would damage Sino-US relations. It also urged the White House to revoke the sanction.

15 Aug 2012 - 10:49pm

Lukoil plans secondary listing in Hong Kong

Lukoil, Russia's second-largest oil producer, is planning a secondary listing in Hong Kong within a year by buying back its issued shares and refloating them, a move that may get it a higher valuation than in Russia.

30 May 2012 - 12:00am

Open for business

It is a blazing hot Saturday afternoon and the exhibition yard outside Yangon showing industrial products from Guangxi is deserted. The monsoon rain has yet to break and the heat is shimmering off the trucks, tractors and cement mixers.

19 Apr 2012 - 12:00am

PetroChina to raise gas output by 66pc

PetroChina plans to double its gas pipeline network and raise gas output by two-thirds in the next five years. The strategy comes despite an analyst's warning that it may rack up 13 billion yuan (HK$15.86 billion) this year in losses from gas imports because it cannot lift domestic prices.

26 Aug 2011 - 12:00am

Oil spills risk under-reported

Two oil spills off the coast of Shandong province last month were far more serious than previously claimed by China National Offshore Oil Corporation (CNOOC), the central government admitted yesterday, blaming the oilfield's US operator, ConocoPhillips.

6 Jul 2011 - 12:00am

PetroChina quits deal for Canada gas firm stake

PetroChina has walked away from a C$5.4 billion (HK$43 billion) stake acquisition in a natural gas project in Canada after it failed to reach agreement with Canadian energy firm Encana on the price and the details of the deal.

23 Jun 2011 - 12:00am

Corporate governance takes back seat in musical chairs

How do you spell corporate governance? Some of the mainland's state-owned enterprises seem to be a bit slow to remedy a potential conflict of interest.

16 Apr 2011 - 12:00am

CNPC crude output rises 8.9pc

The overseas projects of China National Petroleum Corp (CNPC), parent of listed PetroChina, produced 75.82 million tonnes of crude oil last year, up 8.9 per cent from 2009, Xinhua reported. Overseas natural gas output surged 67 per cent to 13.7 billion cubic metres last year.

9 Feb 2011 - 12:00am

CNPC set to sign deal to buy Malaysian fuel

China National Petroleum Corp (CNPC) is scheduled to sign a multibillion-dollar, 20-year deal today to buy fuel from what is expected to be Malaysia's largest oil refinery, part of an effort to enhance energy security and hedge domestic fuel price risks, sources said.

15 Jul 2009 - 12:00am

Oil levy payment points to 29pc drop in CNPC pre-tax earnings

China National Petroleum Corp (CNPC), the country's largest oil and gas producer, may have recorded a 29.1 per cent decline in pre-tax profit last year, a mainland newspaper said.

21 Jan 2009 - 12:00am

CNPC overseas output growth slows to 3.27pc

China National Petroleum Corp's (CNPC) overseas production set a record last year, although growth slowed.

The parent of listed PetroChina, the country's largest oil and gas producer, recorded output of 62.2 million tonnes of crude oil abroad last year, the company said. That was up 3.27 per cent from 60.23 million tonnes in 2007.

9 Jan 2009 - 12:00am

CNPC eyes US$300m Verenex Energy deal

Canadian target owns oil and gas stakes in Libya

China National Petroleum Corp, the largest oil company on the mainland, is bidding for Canadian-listed Verenex Energy in a deal valued at as much as US$300 million, sources said.

A successful bid would widen CNPC's assets in Africa, as Verenex owns oil and gas deposits in Libya.

15 Dec 2008 - 12:00am

CNPC interested in Repsol assets

Mainland companies including China National Petroleum Corp have expressed interest in Repsol YPF, the fifth-largest oil and gas company in the world, which is considering restarting the sale of its Latin American assets that could be valued at US$10 billion, sources said.

14 Apr 2008 - 12:00am

Exploration expenses eat into earnings

CNPC (Hong Kong), a unit of the country's largest oil company, said high exploration costs helped contribute to a 20 per cent fall in profit last year to HK$1.37 billion on sales of HK$3.84 billion, down 1.3 per cent.

The company plans a 12 HK cents dividend in June, subject to approval.

14 Apr 2008 - 12:00am