TANGSHAN LNG PROJECT AGREEMENT SIGNED

On July 29, a framework cooperative agreement was signed in Qinhuangdao International Hotel among China National Petroleum Corporation （CNPC）, Beijing Municipal Government and Hebei Provincial Government on development of Tangshan LNG project. Mr. Wang Qishan, Mayor of Beijing City, Bai Keming, Secretary of Chinese Communist Party Committee of Hebei Province, Chen Geng, president of CNPC, Jiang Jiemin and Su Shulin, vice president of CNPC, attended the signing ceremony. This indicates the strategic cooperation among CNPC, Beijing and Hebei Province has entered into a substantive stage.     

The First Assembly Line of Large-longitudinally-welded Steel Pipe in China Went into Operation

On July 27, the first assembly line to produce JCOE large diameter Longitudinally-submerged-arc-welded steel pipe in China, Which is the key homemade equipment project of "West-East Gas Transmission"project, was put into production. Chen Gen, vice general manager of CNPC; Xie Zhiqiang and Liu Haisheng, assistant chief manager of CNPC; Shi Xingquan, vice president of PetroChina; and the president of Itochu-Marubeni Steel & iron Co., Ltd.of Japan; attended the opening ceremony and cut the ribbon.     

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.     

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）.     

建设综合性国际能源公司保障我国油气供应安全

为推进中国石油天然气行业发展、维护国家能源战略安全，中国石油天然气集团公司提出努力建成具有国际竞争力的跨国经营企业--综合性国际能源公司。规划到2015年形成综合性国际能源公司的总体架构，年营业总收入达到2万亿元人民币，国内外油气总产量当量达到4×10⁸ t，国内外原油加工量超过2×10⁸ t。到2020年，建成世界一流的综合性国际能源公司。今后一个时期该集团公司将：①继续加强国内油气勘探开发，提高油气生产能力；②有序高效发展炼油化工业务，努力保障市场稳定供应；③扩大海外勘探开发规模，建立长期稳定的油气合作区；④加快转变经济发展方式，实现安全发展、清洁发展、节约发展。     

Venezuela to Export Crude to China

President of CNPC Chen Geng met visiting Venezuelan Foreign Minister Jesus Armaldo Perez at Diaoyutai State Guest House in Beijing on September 7. Chen briefed the guest about CNPC's business and overseas oil and gas operation and expressed the willingness to step up the bilateral cooperation in the oil industrial field. In return,Perez also made briefings about the present situation and development trend of the Venezuelan oil industry.     

CNPC''s Ten Major Technological Events in 2004

Editor's note: To make a timely introduction of the latest technologies developed by CNPC, Technological Development Department of CNPC entrusted Petroleum Economic & Technological Research Center of CNPC to appraise the oil company 's major technological developments. Based on three rounds of voting by nearly 100 oil experts, ten major technological events in 2004 are finally selected from more than 1 00 technological projects of CNPC according to the measurement standards of innovation, technological maturity, function and scientific value.     

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     

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.     

China Seeks Closer Oil Cooperation with SCO Nations

China hopes to intensify cooperation with other members of the Shanghai Cooperation Organization （SCO） in the oil sector, in which its own advantages will also benefit international partners, said vice president of CNPC Zhou Jiping, adding that ＂Cooperation in the oil sector enjoys rosy prospects and will benefit all the SCO members.＂ He made those remarks at a business forum held in Beijing in mid-June,     

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.     

CNPC for Deepwater Operation Post 2015

CNPC may start deepwater oil and gas exploration after 2015 whten some deepwater facilities become available, a company engineer said recently. "CNPC has some blocks in Africa and the Middle East,but they are still at the beginning stages," the engineer added.     

坚持技术引领 服务油气勘探 全面提升“找油找气”保障能力

东方地球物理勘探有限责任公司作为全球知名地球物理勘探作业服务公司和中国石油的专业技术服务公司,其技术的发展与进步具有特别重要的意义。"十一五"以来,公司以"矢志找油,当好主力军;持续创新,再做新贡献"为己任,紧紧围绕集团公司油气资源战略,把科技创新作为转变发展方式、提升保障服务水平的重要支撑。在人才建设、技术开发,特别是大型处理解释软件与重大装备研制等方面取得了突出成就,开发成功的GeoEast-Lightning叠前深度偏移与层析速度建模软件填补了国内空白,被集团公司评为2010年十大科技进展之一。公司在关键核心技术上的重大突破,使综合能力显著增强,"找油找气"的主力军作用更加突出,连续六年荣获集团公司"油气勘探贡献奖",海内外服务作业工作量连年增长,营业收入名列全球行业第二位。     

CNPC Hopeful to Have Piece of YUKOS Assets

China's top oil and gas producer, CNPC, is likely to acquire a one-fifth stake of Yuganskneftegaz, a millionbarral-a-day oilunit of Yukos, according to Russian Energy Minister Viktor Khristenko. "The assets of Yuganskneftegaz will be spun off and transferred to a separate company, 100percent owned by the state," Khristenko said in a statement issued by his ministry. "Up to 20 percent of the shares in this company may be acquired by the Chinese National Petroleum Corporation. Such an option was mentioned in documents signed earlier with CNPC."     

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.     

2004: Promising Year for Exploration and Production of CNPC

CNPC, the parent company of PetroChina, held its 2004 annual oil and gas exploration meeting in Beijing between November 9 and 13. The meeting was focused on analysis of the current issues and difficulties in the domestic oil and gas exploration field, summarization of the results achieved in 2004and clarification of the main tasks for 2005.     

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.     

2005 CNPC S&E International Seminar on Borehole Technology

From 23rd to 24th in September, the 2005 CNPC S&E International Seminar on Borehole Technology was held in Beijing. Invited by CNPC S&E, 68 honorable guests from 14 countries in Central Asia, Africa, North and South Americas and Southeast Asia and more than 100 representatives for the embassies in the People's Republic of China from 13 countries discussed the trend,progress and utilization of borehole technology and the service strength of CNPC's borehole technology together.The honorable attendees can further know the technical strength of CNPC S&E through this communication,and therefore find out the best cooperation way to create a higher value for the oil company in one hand, and improve the force and popularity of CNPC S&E in the international market on the other hand.     

BGP，Agip Sign Seismic Contract for Nigerian Block

Bureau of Geophysical Prospecting (BGP), asubsidiary of CNPC, and Agip, an Italian oilcompany, signed a contract for seismic explorationof a Nigerian block in February 2002.     

China Pins Hopes on Pipeline with Russia

China still has faith in the gigantic Sino-Russia oil pipeline, despite reports which said that Russia is inclined to build a competing pipeline in favor of Japan. CNPC, the company representing China to negotiate with Russia on the project, is reported to continue its preparation work to receive Russian crude.