• Sat
  • Nov 29, 2014
  • Updated: 11:41pm


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.

Refining operations fuel gains at oil firms

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.

Wednesday, 30 October, 2013, 3:31am

Engineering and construction hotbed of corruption

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 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

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

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 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

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

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

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’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

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

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 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

Probe hits shares of PetroChina and unit

Shares of PetroChina, the country's largest oil and gas producer, fell 4.4 per cent after the firm said three of its top managers were under investigation by Beijing for alleged violations of discipline.

29 Aug 2013 - 5:02am

Three more CNPC officials under investigation

CNPC vice general manager Li Hualin, vice-president and Changqing general manager Ran Xinquan, and PetroChina chief geologist Wang Daofu are being investigated, Xinhua reported, citing the State Council's State-owned Assets Supervision and Administration Commission.

29 Aug 2013 - 8:42am