PetroChina Logo – PetroChina Company Limited is an oil company China National China owned Petroleum Corporation (CNPC), the largest oil producer in China, state property. The current president is Jiang Jiemin . The company traded in Hong Kong and New York and announced plans to issue shares in Shanghai in November 2007, and after his debut in the index of this city, its market value tripled.
PetroChina Company Limited (“PetroChina”) is the largest producer and distributor of oil and gas play a dominant role in the oil and gas industry in China. There is only one of the companies with the highest sales revenue in China, but also one of the world’s largest oil companies. PetroChina was established as a limited liability corporation with China National Petroleum Corporation under the Corporations Act and the Special Regulations on Overseas supply and actions announced by Joint Stock Limited Liability Companies to 5 November 1999. The American Depositary Shares (ADS) and PetroChina H shares are listed on the NYSE since April 6, 2000 (stock code: PTR) and the Stock Exchange since Hong Kong Limited on April 7, 2000 ( stock code: 857) respectively. Listed on Shanghai Stock Exchange on November 5, 2007 (stock code: 601857). In late 2007, China National Petroleum Corporation held 86.29% of the shares of PetroChina.
Since its founding, PetroChina has established and improved standard corporate governance structure in accordance with the laws and regulations including the Companies Act and the mandatory provisions for the Articles of Association of Companies for a list overseas and the Articles of Association. The shareholders’ meeting, the Board of Directors and the Audit Committee of the Company to function independently and effectively in accordance with the Articles of Association.
PetroChina agrees to become an international energy company with strong competitiveness and one of the leading producers and distributors of petroleum and petrochemical products in the world. It is dedicated to the wide range of activities related to oil and natural gas, including: the exploration, development, production and marketing of crude oil and natural gas, refining, transportation, storage and marketing of crude oil and petroleum products, the production and marketing of primary petrochemical products, derivative chemical products and other chemicals, transportation of natural gas, crude oil and petroleum refining, and marketing of natural gas.
PetroChina, under the guidance of scientific development concept, is dedicated to the implementation of three strategies for resources, markets and internationalization. PetroChina is committed to accelerating the transformation of economic growth, improved self-innovation capability, establishing long-efficient mechanism for security, environmental protection and conservation of energy and create a harmonious enterprise, to transformed from being an international company with strong competitive power. China National Petroleum Corporation (CNPC) is the sole sponsor and shareholder of PetroChina. This is a large petroleum and petrochemical enterprise group, established in July 1998 in accordance with the Plan for Reform Organizational Structure of the State Council. CNPC is a state enterprise investment administered by the organs authorized by the State and State-owned assets supervision and Administration Commission.
In 2007, PetroChina gained wide recognition in the international capital market for its excellent corporate governance and high profitability. It ranked seventh in “2005 Global Top 50 Oil Companies,” published by the American Petroleum Intelligence Weekly, first in “2006 Top 50 companies in Asia” by Business Week announced, and the sixth of “2006 Global Top 250 companies energy “advertising of Platts, a world authority in the energy sector, primarily in Asia and the Pacific for 5 years. He was honored as “the first most profitable company in Asia in 2006,” Finance Asia.