China''''s Oil Giants Successfully Operates Worldwide

CNPC wins oil project in Algeria China National PetroleumCorporation(CNPC)won the bid foran oil integration project in Algeria’sAdrar Province on May 13 whenAlgeria National PetroleumCorporation(Sonatrach Inc)held the bid-opening ceremony at itsheadquarters.This integration projectincludes oilfield development,refineryconstruction and operation andmarketing business,It is another oilproject CNPC has won in this countryafter acquisition of an oilfieldstimulation project in last October inthat country. Adrar oil field is located in thesouthwestern part of Adrar with thediscovered reserves amounting to 600     

China''s Oil Giants Benefited from High Oil Price

High crude prices and strong local demand boosted the profits of China's oil sector in the year's first half, but government-capped petrol prices, cooling economic growth and rising costs threaten future earnings. State-owned big-three oil companies - PetroChina, Sinopec Corp and CNOOC Ltd - posted net profit increases ranging from 11 percent to 48 percent for the first six months of this year.     

China''s Oil Giants Increase Oil Imports from Russia''s Yukos

To relieve the shortage in crude supply, sharp reduction of crude production by Daqing Oil Field in particular, Sinopec Corp has recently signed an agreement with OAO Yukos Oil Company to import 17 million tons of crude oil from Russia's second largest oil firm via a railway over the next four years.The first batch of the Russian oil will be delivered starting May 1 by a rail link from Russian territory to Erlianhaote in China's Inner Mongolia.     

Oil Giants Play Vital Role in China''s Strategic Oil Reserves

China plans to start building of its strategic reserve in August this year in the attempts to meet the emergency case and moderate the oil prices, according to a senior official at Sinopec, one of China's three oil giants."This will definitely be used as a mechanism to manage prices," he added. The government planned to allow State-owned companies to draw on the oil reserve when prices breached a yet-to-be-determined ceiling, and this was strongly supported by the refiners, the Petroleum Intelligence Weekly recently reported.     

China''''s Three Oil Giants Release 2002 Business Results

PetroChina sees remakable results for 2002Business On March 31,PetroChina announced its 2002 businessresults in Hong Kong.The net annual profit stood at 46.91billion yuan in the 12 months as of December 31,2002,up3.17percent from the same period of the previous year.Thegrowth for the profit is in line with the market expectationsand reflects the remakable results PetroChina has achievedin standardization of management,optimization of structureand technical innovation for higher operational efficiency. The growth for PetroChina’s profit can be attributedmainly to the increase in crude,refining pfoducts and naturalgas sales,the price hike of natural gas and the increase ingross profit of oil refining and natural gas sales.The profit isgenerated mainly from sales of crude oil in the company’sexploration and production sector. During this period of time,PetroChina’s business turnoverreaches 244.424 billion yuan,a1.29 percent increase overthe previous year.The net profit per share is 0.27 yuan,0.01yuan hi     

China''s Three Oil Giants Released First-half Business Results

Three state-owned oil giants, PetroChina Company Limited (PetroChina),China Petroleum & Chemical Corporation (Sinopec) and China National Offshore Oil Corporation (CNOOC), released their profit obtained in the first half of 2005 in August respectively, they earned approximately hundred million in total.     

China''''s Three Oil Giants and Foreign Multinationals Donate for SARS Fight

China’s oil giants’help in SARS warresults in good public images.ChinaNational Petroleum Corporation(CNPC),the nation’s largest oil company,hasdonates 20 million yuan(US＄2.4 million)for the government’s fight against severeacute respiratory syndrome(SARS).CNPC contributed 12 million yuan(US＄1.5 million)to the Ministry ofHealth and 8 million yuan(US＄967,300)to Beijing Municipal Government.President of CNPC Ma Fucai said CNPC,as the key State-owned enterprise,isobliged to support the government in itsefforts to beat the epidemic。 In a letter to CNPC released in mid-May,Beijing Municipal Governmentexpressed gratitude to CNPC on behalfof all the citizens in Beijing and spoke     

Key Economic Indexes of China‘s Three Oil Giants in 2001

Based on the statistical figures provided by CNPC,Sinopec and CNOOC, three oil giants in the countryCNPC generated 430.1 billion yuan for the salesincome, 53 billion yuan for the profits and 64.8billion yuan for the taxes in 2001. Sinopec generated360 billion yuan for the sales income, 12.81 billionyuan for the profits and 34.19 billion yuan for thetaxes. CNOOC generated 30.38 billion yuan for thesales income and 9.6 billion yuan for the profits.All the three companies saw a stable grow…     

BGP Better Positioned to Compete with Geophysical Giants Worldwide

Bureau of Geophysical Prospecting (GGP), a subsidiary under CNPC, has seen satisfactory results in development of international exploration market in the first three quarters of this year with the success rate of international bidding reaching 61 percent.     

Chinese Oil Giants Eye Canadian Oil Fields

SinoCanada, a subsidiary of Sinopec International Petroleum Exploration and Development Corporation, and Canada-based Synenco Energy Inc announced on May 31 that they have inked a series of agreements to launch a joint venture for common development of the oil sand project located in Athabasca region of Northeast Canada＇s Alberta Province. Based on the agreements, Sinopec will pay 105 million Canadian dollars （USS84 million） for a stake in Canada＇s Northern Lights oil sands project while Synenco owns the remaining 60 percent share, and will operate the project as the managing partner.     

Oil Giants Slash Gasoline Exports

PetroChina and Sinopec, China＇s two biggest oil companies, continued to cut gasoline exports in September following a huge reduction in August, according to the recent reports from the China Securities Journal. The two firms took the action in response to the call of the National Development and Reform Commission （NDRC） made early August to strictly control refined oil exports and maintain price stability. The combined refined oil exports of the two companies fell below 100,000 tons in August, but the cuts would have little impact on their profits, considering their monthly output of almost 4 million tons. International oil prices have crept upward since June, at one stage breaking the US$80 a barrel mark, according to the NDRC.[第一段]     

Oil Giants Formulate Ambitious Plans for Shale Gas

China will intensify its efforts to explore for shale gas to help restructure the country’s energy supplies and fuel its economic growth,according to the Ministry of Land and Resources.The ministry’s latest survey shows that the country has 25.08 trillion cubic meters of explorable shale gas reserves(excluding Qinghai and Tibet).More than 420 researchers from oil companies,colleges and geological exploration agencies and research     

China’s Two Oil Giants Halt Oil Products Exports

CNPC, China＇s largest oil producer, and Sinopec, the nation＇s largest refiner expressed they would increase their oil processing and halt oil products exports in the third quarter to ensure domestic supply. Vice president of CNPC Wang Yilin said on June 2 that CNPC would stop oil products export and increase the imports to secure the domestic market supplies. Meanwhile, Sinopec President Wang Tianpu also said that Sinopec would raise production, halt exports and adjust product structure to ensure domestic supply, especially for the reconstruction after the earthquake, the summer harvest and the Olympic Games. PetroChina said it would keep its operation at full steam in June to jack up its oil processing by 6 percent over the previous month. The oil giant would also import 600,000 tons of oil products. Sinopec will cut its ethylene production by 65,000 tons, or 11 percent of its monthly production capacity, in June to expand oil product supplies by 200,000 tons. It will also reduce arene production to raise oil products supplies.     

China's Oil Giants Hit Hard by Oil Slumps

<正>Plunging global crude oil prices crimped the 2015earnings of China’s big-three oil companies,according to their annual reports.The net profits of Petro China,China’s top oil and gas company by production at home,shrank 66.9 percent to 35.52 billion yuan in 2015,the lowest profit since 1999.Sinopec Corp.,the country’s the largest oil refiner,saw its net profit decline 30 percent year on year to 32.4 billion yuan in 2015,the worst year     

Oil Giants Return Domestic Stock Market

China National Petrochemical Corporation (Sinopec) plans to raise 11.8 billion yuan (US$1.5billion) on the domestic stock market, setting its initial price offering (IPO) at 4.22 yuan (51 US cents)per share recently.……     

Oil Refining Giants to Cut Output

China's refined oil product output rose slightly inthe first five months of this year on strong demand,but the two biggest domestic producers plan to cutproduction rates in an attempt to bolster the sluggishprice.     

CNPC-Active Oil Player Worldwide

China National Petroleum Corporation （CNPC）, China＇s largest oil and gas producer, has cumulatively made an investment of 59.6 billion yuan （US$7.39 billion） for its overseas oil and gas business in the past few years. The group has established five oil and natural gas production bases in Africa, central Asia, America, the Asian and Pacific region and the Middle East.     

Chinese Oil Giants on Overseas Acquisition Spree

Energy security is a priority and concern for China.In recent years,China’s big three oil companies China National Petroleum Corporation(CNPC),China Petroleum & Chemical Corporation(Sinopec)and China National Off shore Oil Corporation(CNOOC)-have been learning a great deal about doing business abroad     

Chinese and Foreign Oil Giants Join Hands for Petrol Stations

The negotiation on the 500 joint venture petrol stations between Sinopec and Royal Dutch/ Shell Group is now under the final stage. Once the negotiation is wound up, the first number of the joint venture petrol stations will be put into operation in Jiangsu Province within three months after the signature of the agreement. The remaining ones will be constructed and put into operation in three years.