CNPC Sees Crude and Natural Gas Production Rising Steadily

China National Petroleum Corporation （CNPC） firmly consolidated its dominant position in the country＇s oil and gas production sector in 2008. The largest oil producer in China sees an increase of 466,700 tons in its domestic crude output in the first half over the same period a year earlier. CNPC, the parent of PetroChina, said its production had met 50.03 percent of the full-year target despite the worst snowstorm in more than five decades from January to February and the massive Sichuan earthquake on May 12.     

Energy Supplies Ensured in Earthquake Region

China is releasing oil products from its state reserve stockpiles to areas stricken by earthquake on May 12 to ensure energy supply. PetroChina has also resumed fuel distribution in those regions, The State Reserve Bureau has sent 6,313 tons of oil products to the quakehit areas. The reserve bureau will also release gasoline and diesel from its stockpiles in Jiangyou, Sichuan and Guiyang, Guizhou to quake hit areas. The government has also diverted jet fuel tankers to Shuangliu and Mianyang airports in Sichuan to ensure air transport. China National Aviation Fuel Group Corp. has sent 68 tankers carrying 3,200 tons of jet fuel to the airports. In addition, PetroChina＇s oil and gas production in the quake-hit southwest Sichuan Province had almost restored to a normal level by May 20. The daily output of gas has reached 99 percent of its full capacity before the quake. The company has pledged 100,000 tons of emergency oil supplies to the province and had sent 83,300 tons within one after the earthquake took place.     

PetroChina Posts All-time High Oil and Gas Production in 2005

PetroChina, China＇s largest oil and gas producer, has set a record high for its 2005 oil and gas output by producing 1.034 billion barrels ofoil equivalent in total, rising by 5.5 percent from a year earlier. The company produced 105.9 million tons of crude oil last year from its domestic assets, accounting for 58 percent of the country＇s total oil output. The company＇s domestic production in 2005 is equal to 842 million barrels, the highest level since the company issued IPO at NYSE and HKSE in 2000. This represented an increase of 12.80 million barrels,     

Sinopec and CNOOC Join Hands for Oil Import

Sinopec and CNOOC, two of China‘s big-three oil companies, have set up a joint venture to import crude oil.The joint venture makes CNOOC the fifth largest crude oil importer in China. Following the move, CNOOC is also likely to gain government approval to build a large refinery and market oil products this year. company executives said.     

Latest Development in China＇s Oil Refining ＆ Petrochemical Sector

China＇s big-three oil companies - CNPC, Sinopec and CNOOC - have intensified their competition in the domestic oil refining and petrochemical sector in recent years so as to better position themselves in the oil products market at home.     

Sinopec Raises 2006 Oil and Gas Production

Sinopec Corp., the nation＇s second-biggest oil company, is expected to produce 1.9 percent more crude oil and 11 percent more gas in 2006 as the nation＇s energy demand continually rises. The company may pump 40 million tons of crude oil and 7 billion cubic meters of natural gas from domestic fields this year, said Sinopec Corp in a statement released in late December. The company produced 39.27 million tons of crude oil and 6.3 billion cubic meters of gas last year. Chinese oil companies are increasing investments in oil and gas exploration to meet demands by the world＇s fastest-growing major economy, which expanded 10.7 percent in the first three quarters of this year.     

Output Of China’s Top Oil Producer Rises Steadily

China National Petroleum Corporation (CNPC),the country's biggest oil and gas producer,said in early January 2013 that its crude oil output from domestic blocks reached a record high of 110.33 million tons in 2012,up 2.79 million tons from one year ago.Production from the Daqing Oilfield in northeastern China reached 40 million tons in 2012 while output from the Changqing Oilfield in Northwest China's Shaanxi Province hit 22.62 million tons,up 2.6 million tons from 2011.Production from oilfields in Xinjiang Uygur Autonomous Region rose to 18.39 million tons last year,according to CNPC.In addition,the oil giant said its oil and gas sales exceeded 200 billion yuan (US$31.75 billion) for the first time in the year.     

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]     

RECENT OIL PRICE DECLINE BENEFITS OIL GIANTS LIMITEDLY

Sinopec, Asia＇s largest refiner, hasn＇t really benefited from recent declines in global crude oil prices, because its refining costs still far exceed domestic oil product prices. China caps refined oil product prices at relatively low levels by world standards. Sinopec said that although lower world prices would reduce import costs, global crude prices were still well above the break-even point of 80 U.S. dollars/bbl for Asia＇s largest oil refiner. Sinopec imports about 80 percent of the crude it refines.     

Sinopec's Non-fuel Profit Rises Significantly in First Half of 2016

<正>China’s largest oil refiner China Petrochemical Corporation,also known as Sinopec Group,saw its non-fuel sales surge 43 percent in the first half of this year amid falling crude oil prices.The Beijing-based company’s non-fuel profits rose 42 percent from January to June,while sales of its retail oil products grew 3.1     

Sinopec''''s Profits up Drastically in First Quarter

Sinopec, Asia's largest refiner,announced on April 29 that its net firstquarter profit skyrocketed almost 12-fold as it sold more refined oil andpetrochemical products, cashing in onthe international price hikes in oilduring the period. However, analystssaid the growth of China's secondlargest oil company is expected torecede in the second quarter as oil pricesfall due to the end of the Iraq War.Theystill anticipate the company's full-yearprofit will increase by 15 percent ormore on the back of a domestic oilmarket recovery. Sinopec earned 6.42 billion yuan(US$775 billion) in the first quarter,compared with 542 million yuan(US$65.5 million) a year earlier, basedon the international accountingstandards, the company said in astatement. Earnings per share (EPS)increased to 0.07 yuan (0.8 US cents)over the same period of the previousyear. Revenues rose 55.6 percent to102.7 billion yuan (US$12.41 billion).The profit surge is in line with marketexpectation as analysts said high oil     

Algeria Hopes to Strengthen Oil Cooperation with China

Algerian Energy and Minerals Minister said thatAlgeria welcomed the Chinese companies toparticipate in the oil and gas cooperative projects inthe country. He made those remarks in a meeting withthe delegation from CNPC and Sinopec. Algeriahoped to cooperate with China in oil and gas     

Sinopec and CNOOC Join Hands for Oil Import

Sinopec and CNOOC, two of China's big-three oil companies, have set up a joint venture to import crude oil.The joint venture makes CNOOC the fifth largest crude oil importer in China. Following the move, CNOOC is also likely to gain government approval to build a large refinery and market oil products this year, company executives said.     

New Operator in Oil Retail Sector

When you look for gas stations to refill your car's tank in China, you will probably find only two brands: CNPC and Sinopec. But there will soon be a new player in the market:"Shide." Private firm Dalian Shide Group has recently won a licence to trade refined oil, putting an end to the monopoly of CNPC and Sinopec in the oil retail sector.     

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.     

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…     

我国原油管道现状与展望

管道是原油运输的主要运输方式,是保证国家能源和战略安全的有效手段。世界原油管道主要分布在北美、俄罗斯和中东地区。目前,我国原油管道长约1.3×104km,主要由中国石油和中国石化两家公司运营管理,部分管道运行时间较长,存在一定安全隐患,个别管道长期处于低输量运行。2011年我国原油对外依存度为54.3%,首次超过美国。随着我国原油对外依存度的增加,西北、东北、西南、海上四大原油进口通道将进一步拓宽,国内配套管道将进一步完善,连接沿海港口和内陆炼油厂的原油管道将陆续建成。     

CNPC Sets 2002 Targets for Main Businesses

CNPC President Ma Fucai outlined the main taski of the country's oil giant at the CNPC 2002 Work Conference that was held in late January. Ma said that CNPC would focus on petroleum exploration to increase the high-quality recoverable reserves, adding that the efforts would be strengthened for assessment of the key strategic exploration regions, such as Ordos basin, Junggar basin, Tarim Basin and Songliao basin. Meanwhile, CNPC will also concentrate itself on the progressive explorat…     

Latest Development in China''s Oil Refining & Petrochemical Sector

China's big-three oil companies - CNPC, Sinopec and CNOOC - have intensified their competition in the domestic oil refining and petrochemical sector in recent years so as to better position themselves in the oil products market at home.