|Feb 15, 2018|
|Feb 15, 2018|
Currency in HKD
|Full time employees:||508,757|
PetroChina Co. Ltd. engages in the petroleum related products, services and activities. It operates through the following business segments: Exploration and Production; Refining and Chemicals; Marketing; Natural Gas and Pipeline; and Head Office and Other. The Exploration and Production segment involves exploration, development, production, and marketing of crude oil and natural gas. The Refining and Chemicals segment focuses on the refining of crude oil and petroleum products, production and marketing of primary petrochemical products, derivative petrochemical products, and other chemical products. The Marketing segment includes marketing of refined products and the trading business. The Natural Gas and Pipeline segment comprises transmission of natural gas, crude oil, and refined products and the sale of natural gas. The Head Office and Other segment relates to cash management and financing activities, the corporate center, research and development, and other business services supporting the operating business segments of the Group. The company was founded on November 5, 1999 and is headquartered in Beijing, China.
PetroChina is a Hong Kong-listed subsidiary of the mainland's state-run China National Petroleum Corp., known as CNPC. The parent company has played a leading role in China's oil industry and energy strategy since the Ministry of Petroleum Industry became CNPC in 1988. The CNPC chairman has power equivalent to Chinese government cabinet members.
PetroChina's core businesses are development and production of crude oil and natural gas. It is one of the world's largest oil companies. Its domestic rivals include state-owned enterprise China Petrochemical, also known as Sinopec.
Zhou Yongkang, a disgraced former member of the Chinese Communist Party's Politburo Standing Committee, worked at CNPC. Under Chinese President Xi Jinping's anti-corruption drive, the government cracked down on senior officials at PetroChina.
PetroChina has aggressively expanded its business in Sudan, Libya, Iraq, Syria and other war-torn or dangerous areas, where major U.S. and European companies hesitate to invest. After entering into such markets, however, many projects have failed amid worsening public security. The company has recently scaled down its resource investment, in line with China's "new normal" of slower growth under Xi.
A big challenge for PetroChina is transparency. The company took on 60% of CNPC's total assets when it went public. CNPC accounts for slightly more than 80% of PetroChina's outstanding shares. PetroChina's management does not appear to be influenced by shareholders.
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- Local currency
- US Dollar
|Income before tax||48,006.81M|
|Dividends per share||0.06|
|Operating cash flow||302,020.99M|
Currency in HKD
|Income before tax||6,184.48M|
|Dividends per share||0.00|
|Operating cash flow||38,907.91M|
Currency in USD
- Vice Chairman & President: Dong Jin Wang
- Chief Financial Officer: Shou Ping Chai
- Vice President: Long De Sun
- Vice President: Jinghui Tian
- Executive Director & Vice President: Qijun Hou
- Hang Seng Investment Management Ltd.(3.4%)
- The Vanguard Group, Inc.(3.3%)
- BlackRock Fund Advisors(2.8%)
- Value Partners Ltd.(1.5%)
- China State-Owned Assets Supervision & Admn Commission(1.3%)
- Norges Bank Investment Management(1.1%)
- Dimensional Fund Advisors LP(1.0%)
- State Street Global Advisors Asia Ltd.(1.0%)
- Allianz Global Investors Asia Pacific Ltd.(0.8%)
- BlackRock Advisors (UK) Ltd.(0.7%)
- Website: http://www.petrochina.com.cn
- Address: No. 9, Dongzhimen North Street, Dongcheng District, Beijing, 100007, China
- Phone: +86.10.59986223
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