CNPC Makes Remarkable Achievements in Implementation of Go-World Strategy

CNPC Successfully Acquires Kazak Oil Company China National Petroleum Corporation （CNPC） has recently announced that it successfully acquired PetroKazakhstan （PK）, a Kazak oil company headquartered in Canada. A local Canadian court in Alberta has approved the US$4.18-billon acquisition of PK by CNPC, which took over the company through its wholly-owned subsidiary China National Petroleum Corporation International （CNPCI）.     

CAOHC RESTRUCTURE AVIATION OIL CORPORATION WITH BIG-TWO OIL GIANTS

China National Petroleum Corporation (CNPC),China Petrochemical Corporation (Sinopec) and China Aviation Oil Holding Company (CAOHC)signed a framework agreement in Beijing on November 8, 2004 to establish a limited aviation oil company on the basis of China Aviation Oil Supply Corporation, one of CAOHC's core companies. The new company is expected to be set up in 2005.     

BGP Ltd Adopts Energy-saving Technology

An exploration subsidiary of China National PetroleumCorporation (CNPC), the country‘s largest oil company, hasagreed to use energy-saving technology developed by aBeijing finn in an attempt to slash costs.     

CNPC Speeds up Overseas Oil Assets Purchase Plan

China National Petroleum Corporation(CNPC),the country's largest oil and gas producer,will speed up overseas acquisitions in regions such as Africa,Asia-Pacific and South America this year.Currently,the company is in talks with foreign partners for several deals because the relatively low prices of overseas assets this year have offered the company unprecedented opportunities for acquisition.     

Ambitious Blueprint of CNPC for Natural Gas Distribution Business

China National Petroleum Corporation （CNPC）, China＇s leading company in natural gas production and transportation, has made ambitious plans to increase its portfolio in the urban natural gas distribution sector. The company will use its dominance in the upstream business, which is gas production and supplies, to further develop its gas retail operation and accelerate construction of gas pipeline network nationwide.     

Improve Competitive Ability by Technology Advantage

The Great Wall Drilling Company （GWDC） of CNPC is a professional petroleum engineering and technology service company directly affiliated to China National Petroleum Corporation （CNPC）.     

China Petroleum Pipeline Bureau (CPP)

China Petroleum Pipeline Bureau (CPP), which belongs to China National Petroleum Corporation (CNPC), authorizes China Petroleum Pipeline Engineering Corporation (CPPE) a subsidiary of CPP, to perform Overseas Business on behalf of it.     

Generali-CNPC Insurance Opens Branch in Beijing

Generali China Life Insurance, a 50-50 joint venture between Italy-based Assicurazioni Generali and the China National Petroleum Corporation (CNPC), announced on June 7 the official launch of its Beijing branch, the insurer's second in China. The new branch, according to the company's officials, is a milestone for Generali China as it marks a transformation from being a regional insurance company to a national one.     

Substantial Result Achieved for China-Russia-ROK Gas Cooperation Project

China National Petroleum Corporation (CNPC), Rusia Petroleum of Russia and KOGAS, a natural gas company in Rpbulic of Korea, jointly announced in Moscow on November 14 that the feasibility study report of "Project for Natural Gas Transmission Pipeline to People's Republic of     

Sinopec International Petroleum Service Corporation

Established in December 2003, Sinopec nternational Petroleum Service Corporation （SIPSC） is a fullyowned subsidiary of China Petrochemical Corporation （Sinopec Group）. The company is mainly engaged in contracting international petroleum service ,rojects and providing technical services, and is responsible for uniform management, coordination and orginization of contracted international projects and labor service cooperation performed by Sinopec＇s upstrean subsidiaries.     

CNPC Develops Towards Integrated International Energy Company

China National Petroleum Corporation (CNPC) has further confirmed the ambitious target to build itself into an integrated international energy company at the 2009 work conference held in Langfang City,Hebei Province between January 8 and 10,2009.     

CNPC Cooperates with Russian Company in Oil Products Business

China National Petroleum Corporation （CNPC） plans to set up a joint venture with Russian oil giant Rosneft to open up to 300 service stations in China. The joint venture, in which the Chinese company has a controlling stake, will cover oil refinery and retail business.     

Deadly Gas Accident Leads to CNPC''s Management Reshuffling

Ma Fucai resigned from the position as president of China National Petroleum Corporation (CNPC),the nation's largest oil company, on April 14 taking responsibility for the gas well blowout in Southwest China's Chongqing that killed 234 people on December 23, 2003. Vice president of CNPC Chen Geng stepped in as head of the oil giant. Chen was also president of the overseas-listed PetroChina at that time, of which CNPC is the parent company.     

CNPC Focuses Investment on Main Business for Sustainable Development

Despite the current global financial crisis, PetroChina Company Limited, of which China National Petroleum Corporation （CNPC） is the parent company, plans to increase its investment in its oil and gas business from 60 to 70 percent in 2009. Chairman of PetroChina Jiang Jiemin said at a recent shareholders meeting that PetroChina＇s losses during the global financial crisis were ＂limited and under control＂ because the company has focused the majority of its business on oil and gas production and exploration in the past few years. According to Jiang, PetroChina may adjust its investment structure but will continue to strengthen its core businessas the oil and gas projects are to last generally six to eight years.     

CHINA BEEFS UP OIL COOPERATION WITH RUSSIA

China National Petroleum Corporation （CNPC）, China＇s largest oil company, has recently bought US$500 million worth of shares in Russian oil giant OAO Rosneft. Based on a statement released in mid-July, CNPC bought the 66.2252 million shares in Rosneft at US$7.55 per share. The Russian firm is scheduled to go public on both the London and Moscow stock exchanges in an initial public offering （IPO）, one of the largest of its kind worldwide.     

Sinopec''s Profit Drops Sharply in 2008

China Petroleum and Petrochemical Corporation (Sinopec),Asia's largest refiner,said in late January its net profit for 2008 was expected to decline by more than 50 percent from a year earlier.The company has seen "great losses in the oil-refining business" due to the gap between high global crude prices and the domestic price control of oil products in the first half of 2008,said a recently-released company statement.In the first half of 2008,the loss of Sinopec's oil refining segment reached 46 billion yuan.     

Schlumberger and China Petroleum Industry Eye Win-Win Goal

In the afternoon of Oct. 10, 2005, China National Petroleum Corporation （CNPC）, China Petrochemical Corporation （Sinopec）, China National Offshore Oil Corporation （CNOOC） and Schlumberger jointly celebrated 25 years of cooperation between China petroleum industry and Schlumberger at Diaoyutai State Guesthouse. The successful accomplishment of logging operation by Schlumberger in Ren 28 well of North China Oilfield, its first logging service in China, 25 years ago marked the beginning of friendly cooperation between Schlumberger and China Petroleum Industry. In view of the requirement of China Petroleum Industry,     

中国石油化工集团公司

中国石油化工集团公司（中国石化）是集石油勘探开发、炼油、化工及产品营销于一体的能源化工企业，2005年实现主营业务收入8230.12亿元人民币，在《财富》2006年度全球500强企业中排名第23位，其控股的中国石油化工股份有限公司在香港、纽约、伦敦和上海四地上市。     

Status and Prospects of Petroleum Exploration and Development in China

A new system facing petroleum industry market has been initially established after the recognition and institutional shift of three oil giants, China National Petroleum Corporation （CNPC）, China Petrochemical Corporation （Sinopec） and China National Offshore Oil Corporation （CNOOC） in 1998. By reviewing past ten years development of domestic oil and gas exploration, outstanding performances have been achieved through discovery a batch of large scale oil and gas fields, resulting a positive growth in reserves and keeping the oil yield rising steadily, with quick growth of natural gas production.     

中国石油化工集团公司

中国石油化工集团公司（中国石化）是集石油勘探开发、炼油．化工及产品营销于一体的能源化工企业，2005年实现主营业务收入8230．12亿元人民币，在《财富》2006年度全球500强企业中排名第23位，其控股的中国石油化工股份有限公司在香港、纽约、伦敦和上海四地上市。