PetroChina | South China Morning Post
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  • Mar 30, 2015
  • Updated: 4:02pm


As its name suggests, PetroChina Company Ltd is the listed arm of state-owned China National Petroleum Corporation (CNPC). It is China's biggest oil producer, and is listed in Hong Kong, New York, and Shanghai.

China's expertise secures lead role in Iraqi oilfields

Chinese oil producers are establishing a solid track record.

From the giant southern oilfields to the lively souks of Basra, China is drilling ever deeper into Iraq.

Friday, 1 November, 2013, 3:23am 1 comment

China scrambles to boost oil output

Profits at PetroChina and Sinopec were up last quarter. Photo: Xinhua

The mainland's biggest state-owned oil companies, sitting on ageing fields, are scrambling to ramp up crude oil and natural gas production to meet surging domestic demand through a slew of investments that also risk pushing up their costs.

31 Oct 2013 - 2:41pm

Refining operations fuel gains at oil firms

PetroChina posted a 19.4 per cent year-on-year rise in net profit to 29.8 billion yuan (HK$37.7 billion). Photo: Reuters

PetroChina and China Petroleum & Chemical (Sinopec), the country's two largest oil producers and refiners, yesterday posted improved third-quarter results on better refining profitability.

30 Oct 2013 - 3:31am

Engineering and construction hotbed of corruption

Industry officials say corruption is rampant in the energy sector because of the high concentration of power at the top. Photo: EPA

In March last year, after getting government approval to go ahead with a US$900 million refinery expansion in Fujian province, state-run oil giant Sinopec Corp warned the team handling the project against taking bribes.

28 Sep 2013 - 2:42am 4 comments

Wison records seized as probe widens

Wison records seized as probe widens

Wison Engineering Services, a supplier to PetroChina, said mainland authorities had taken company records and temporarily frozen some of its bank accounts amid a widening probe into the giant oil producer and its parent, China National Petroleum Corp.

20 Sep 2013 - 3:59am

PetroChina eyes US$10b stake in Russian gas fields

Pumping gear and a gas derrick in Urengoy, Siberia. Photo: Bloomberg

PetroChina is seeking to invest in Russian gas fields as part of efforts by China and Russia to conclude gas-supply negotiations that have dragged on for almost a decade, four people with knowledge of the matter said.

11 Sep 2013 - 5:02am

PetroChina says graft report not accurate

PetroChina, one of the world's most valuable oil companies, is embroiled in a major corruption investigation. Photo: Xinhua

Trading in PetroChina shares resumed yesterday afternoon after being halted in the morning following a mainland newspaper report that five of its executives had been taken away as part of an corruption investigation.

10 Sep 2013 - 3:10am

PetroChina vows to contest shareholder lawsuit in US

PetroChina's management, seeking to reassure investors, says it will cut spending on oil refining and petrochemical plants as part of a shift in priorities. Photo: Reuters

PetroChina says it will fight a minority shareholder's legal challenge in the United States against its officials on alleged violations of US securities laws. "The company will vigorously contest the complaint to protect [its] legitimate rights and interests," PetroChina said in a statement to the Hong Kong stock exchange.

7 Sep 2013 - 5:03am

CNPC plans 630b yuan pipeline boost

PetroChina's additional pipelines will deliver gas from Central Asia, as well as from Russia and mainland gas fields. Photo: Xinhua

China National Petroleum Corp (CNPC), the mainland's largest oil and gas producer, plans to spend 630 billion yuan (HK$791.8 billion) over the next decade to build four more long-distance gas pipelines that would see 65 per cent of the nation's cities connected to its network.

6 Sep 2013 - 3:38am

PetroChina hit by US class action law suit for failing to disclose graft probe

PetroChina hit by US class action law suit for failing to disclose graft probe

A US law firm has filed a class-action lawsuit in an American court against PetroChina and some of its executives for failing to disclose the corruption scandal affecting the oil giant and its state-owned parent, the China National Petroleum Corporation (CNPC).

5 Sep 2013 - 3:22am 4 comments

Action on CNPC signals Beijing's resolve to hit corruption hard

Former CNPC chairman Jiang Jiemin has been placed under investigation. Photo: AFP

An anti-corruption drive is sweeping China. As soon as Bo Xilai's trial ended on August 26, news broke of trouble brewing at China National Petroleum Corporation (CNPC), one of the nation's biggest state-owned enterprises and parent company of the Hong Kong-listed PetroChina.

5 Sep 2013 - 2:57am 2 comments

Under new management, scandal-hit PetroChina changes course

PetroChina will probably record an annual drop in capital spending for this year, which would be its first fall in capex since its Hong Kong and New York stock market listings in 2000. Photo: Xinhua

PetroChina’s days of super-charged spending may be over as the Chinese national oil giant seeks to steer clear of the legacy of former chairman Jiang Jiemin, now under an official corruption probe.

4 Sep 2013 - 1:10pm

US market watchdog likely to ratchet up pressure on PetroChina

US market watchdog likely to ratchet up pressure on PetroChina

The US Securities and Exchange Commission (SEC) is expected to ask tough questions of PetroChina, after news reports indicated Beijing is investigating the oil company and its parent, the China National Petroleum Corporation (CNPC).

4 Sep 2013 - 8:16am

Doubts about Wison still not eased

Wison's headquarters in Shanghai. Chairman Hua Bangsong said on Monday he was co-operating in an official investigation. Photo: Reuters

An announcement that Wison Engineering chairman Hua Bangsong was assisting investigations by mainland authorities was not enough to lift the veil of secrecy surrounding the private firm, which struck it rich through its close ties to PetroChina.

4 Sep 2013 - 1:31am

Oil giants barred from new projects after missing pollution targets

China's environment ministry has accused Sinopec Group of failing to meet a target to cut nitrogen oxide emissions. It also says China National Petroleum Corporation failed to meet targets to cut chemical oxygen demand last year. Photo: Reuters

China's largest oil and gas producer, PetroChina, has been barred from expanding its refining and chemical production capacity. The Ministry of Environmental Protection said yesterday the energy giant had failed to meet its target for cutting chemical oxygen demand (COD) - a measure of organic pollutants from waste water in rivers and lakes.

30 Aug 2013 - 5:02am