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.     

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 Better Positioned for China''s National Economic Development

2005 objectives of CNPC China National Petroleum Corporation (CNPC), the parent company of PetroChina, has set the 2005 business objectives to bring up the annual additional oil and gas recoverable reserves to 220 million tons of oil equivalent,pump 161 million tons ofoil and gas in total, and raise the domestic crude processing volume to 120 million tons in the year ahead. At the five-day annual work conference closing on January 19 in Beijing, CNPC further clarified its goal to build itself into a powerful multinational integrated energy enterprise with the international competitiveness.     

PETROCHINA FIRST-HALF INCOME DECLINES ON LOWER OIL PRICE

PetroChina,the world's most valuable company of which China National Petroleum Corporation(CNPC)is the parent company,released its first-half profit in late August,which fell 7.2 percent after crude oil prices dropped as the global economic slowdown curbed demand for fuels.The Net income declined to 50.5 billion yuan from a restated 54.4 billion yuan a year earlier.That's higher than the median estimate of 49.9 billion yuan in a Bloomberg News survey of seven analysts.The sales reached 415.3 billion yuan.     

Companies

Net earnings after pre-tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.     

Companies

Net earnings after pre-tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.     

Companies

Net earnings after pre-tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.     

Companies

Net earnings after pre-tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.     

Companies

Net earnings after pre-tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.     

Companies

Net earnings after pre-tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.     

Companies

Net earnings after pre-tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.     

Companies

Net earnings after pre-tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.     

Companies

Net earnings after pre-tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.     

Companies

Net earnings after pre-tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.     

Companies

Net earnings after pre-tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.     

Companies

Net earnings after pre-tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.     

Companies

Net earnings after pre-tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.     

Companies

Net earnings after pre-tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.     

Companies

Net earnings after pre-tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.     

Companies

Net earnings after pre-tax profits. Profiles include: Anadarko Petroleum, Chevron Texaco, Conoco Phillips, Exxon Mobil, Occidental, Schlumberger, YPF SA, EnCana Corporation, Imperial Oil, Petroleo Brasileiro, Total SA, E.ON, ENI, Repsol, Ecopetrol SA, Norsk Hydro, Statoil, Devon Energy Corporation. BP, Shell, BHP Billiton, CNOOC, Sinopec and PetroChina. Updated on a monthly basis.