Energy Companies




Key Facts

Forbes China Ranking/Forbes 2000 Ranking: 1/41
Sales (US$): 68.4bn
Profits (US$): 16.5bn
Assets (US$): 96.4bn
Market Capitalisation (US$): 208.76bn


According to the Forbes ranking, PetroChina is the largest publicly owned firm in China. The company was founded on 5 November 1999 as part of the restructuring of China National Petroleum Corporation, with the majority of the assets, as well as the liabilities, of CNPC being handed over to the new PetroChina company.

The main roles of the company include processes concerned with the various stages of the production of natural gas and oil; transferring the raw product to a state where it can be used by the consumer; production and sale of chemical products.

The company has been listed on the New York and Hong Kong Stock Exchanges since 6 April 2000 and 7 April 2000, respectively.

Critics have often pointed out, however, that the success of PetroChina has not solely been the result of good management. It is argued that the alleged duopoly it holds with another Chinese firm, Sinopec, is behind making PetroChina the most profitable firm in Asia, something which high oil prices are likely to exacerbate.

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