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The formation of the oil industry of the People's Republic of China began on March 27, 1950 with the creation of the Soviet-Chinese joint venture Sino-Russian Petroleum Company to develop the Dusanji field. On April 23 of the same year, an oil production bureau was created as part of the Ministry of Fuel Industry, which five years later became an independent Ministry of Oil Industry. In 1955, development of the Karamay field in the Dzhungar oil and gas basin began. In 1970, during the reorganization of ministries, the Ministry of Fuel and chemical industry. Also this year, construction began on the first large oil pipeline in China, connecting the Daqing field with the Fushun oil refinery. In 1975, the construction of an oil pipeline linking the Qinhuangdao field with Beijing was completed.
By 1978, China became one of the largest oil-producing countries, producing about 100 million tons of oil per year, but oil production assets were scattered among various corporations and government departments. In the early 1980s, some of them were merged into two large corporations, China National Offshore Oil Corporation (CNOOC, 1982) and China Petrochemical Corporation (1983, since 2000 called Sinopec). September 17, 1988 based on the productive assets of the disbanded ministry oil industry The People's Republic of China created the China National Petroleum Corporation, wholly owned by the state. In 1993, China National United Oil Corporation (together with Sinochem) was created to export oil. However, for the rapidly growing economy of China at that time, the issue of oil imports was more pressing, since its own production at the level of 140 million tons per year barely covered consumption. Therefore, CNPC began to look for opportunities for oil production abroad. Also in 1993, the corporation acquired production licenses in areas in Thailand, Canada, Peru and Papua New Guinea, and in 1997 also in Venezuela. In October 1997, a 60 percent stake in the Aktobe Oil Company in Kazakhstan was purchased, the transaction amount was $325 million, and the corporation was to invest another $4 billion in laying an oil pipeline to China. Also this year, a stake in the Iraqi Al-Ahbad field was purchased for $1.3 billion.
In 1996, CNPC accounted for 89% of the country's oil production (CNOOC 10%). At this time, restructuring of the industry began in order to prepare for partial privatization. In 1998, CNPC swapped assets with China Petrochemical Corporation, acquiring several refineries and divesting several fields; Thus, the share in oil and gas production was reduced to two thirds, but the scope of activity expanded into oil refining. In November 1999, a subsidiary, China National Petroleum Co., Ltd., was established. (abbreviated PetroChina), which included the most valuable assets of CNPC. In 2000, PetroChina made an initial public offering on the Hong Kong and New York stock exchanges, which was generally disappointing; the subscription amount for shares amounted to $2.9 billion instead of the expected $7 billion, 20% of which were purchased by the British company. In September 2005, an additional issue of shares was carried out (3 billion class H shares at a price of HK$ 6 per share). In October 2007, 4 billion Class A shares were listed on the Shanghai Stock Exchange (4 billion shares at RMB16.7 per share). The controlling stake remained with CNPC; at the end of 2018, the corporation owned 81.03% of the shares (some of them through its subsidiary Fairy King Investments Limited).
In 2004, the corporation began construction of an oil pipeline from the Middle East to the Xinjiang Uyghur Autonomous Region of China. In 2006, CNPC acquired a stake in PetroKazakhstan, a Canadian-registered company engaged in the production and processing of hydrocarbons in Kazakhstan, for $4.18 billion (this became the largest takeover in history foreign company, produced by a Chinese company). In 2007, CNPC became the operator of the Turkmen project Bagtyyarlyk. In 2009, oil production was resumed in Iraq, and the Chinese corporation is also producing oil and gas in Iran and Sudan, taking advantage of the lack of competition from Western companies who cannot violate sanctions against these countries.
The corporation produces oil and gas mainly in China; in 2017, 102.54 million tons of oil (752 billion barrels) and 103.3 billion m³ of natural gas were produced here, for a total of 1.36 billion barrels of oil equivalent per year, or 3.726 million barrels per day. The highest level of production is provided by the Daqing field (34 million tons per year) and the Changqing field (23.72 million tons, including gas, more than 50 million tons in oil equivalent). Of the unconventional resources, shale gas production amounted to 3 billion m³, and another 1.78 billion m³ came from coal seam gas production.
The corporation takes part in several joint projects with a total production volume of 2.49 million tons of oil and 9.3 billion m³ of gas. The largest of them:
- Zhaodong oil project in the Bohai Bay basin, jointly with New XCL (China) and Roc Oil (Bohai) Company (Australia); 480 thousand tons per year;
- the Changbei gas project in the Ordos Basin with Royal Dutch Shell; 3.3 billion m³;
- the South Suligue gas project in the Ordos basin jointly with Total; 2 billion m³;
- the Chuandongbei gas project in the Sichuan Basin with Chevron; 1.8 billion m³;
- the Chuanzhong gas project in the Sichuan basin together with the American []; 230 million m³;
In addition to China, oil and gas activities are carried out in 38 countries; share production in 2017 amounted to 68.8 million tons of oil and 25.5 billion m³ of natural gas. Among the foreign projects in which CNPC participates are the Russian Yamal LNG project (20% share), oil and gas production in Turkmenistan, Kazakhstan, Venezuela (Junin 4 and Sumano), Ecuador, Brazil (Ribera and Peropa deepwater projects), Oman, UAE, Iraq ( Rumaila, West Qurna, Halfaya), Iran (South Pars), Sudan, South Sudan, Mozambique (Chorrol deepwater gas field), Chad (Bongor project), Niger (Agadem), Indonesia, Myanmar, Canada (oil sands), Australia.
CNPC has shares in the majority of pipelines in China, the total length of which in 2017 was 85,582 km, including:
In 2017, the corporation processed 152.42 million tons of oil, production of petroleum products amounted to 103.51 million tons, including 52 million tons of diesel fuel, 41 million tons of gasoline and 10 million tons of kerosene. Of the petrochemical products, the most important are ethylene (5.76 million tons), synthetic resins (9.4 million tons), lubricating oil (1.64 million tons), urea (1.44 million tons), ammonia (1.36 million tons). t), synthetic rubber (810 thousand tons).
Natural gas sales amount to 151.8 billion m³, the corporation has 24 LNG plants with a processing capacity of 22.86 million m³/day. The corporation accounts for 20% of liquefied gas production in the country. CNPC owns a network of gas stations, which in 2017 consisted of 21,400 gas stations, sales of petroleum products amounted to 114 million tons. In addition to gas stations, the corporation owns a network of minimarkets and fast food outlets, a total of 19,300 points, their revenue in 2017 amounted to 18.6 billion yuan. The corporation sells petroleum products not only in China, but also in other countries; its market share in Sri Lanka is 45%, Myanmar - 32%, Australia - 14%, it is the largest supplier of aviation fuel for Hong Kong International Airport (43%) .
Incidents
On December 23, 2003, a gas explosion occurred at a well in the Luojia field in Chongqing Province, killing 243 people and hospitalizing 2,142. On March 25, 2006, a leak occurred at the same field, 15 thousand people were evacuated
China National Petroleum Corporation(whale. 中国石油天然气集团公司 ; official English name China National Petroleum Corporation, CNPC) is the largest Chinese oil and gas company. Headquarters - in Beijing. The company ranks 4th in the Fortune Global 500 (2014).
CNPC was founded on September 17, 1988, based on the production assets of the disbanded Ministry of Petroleum Industry of the People's Republic of China. The main task of CNPC is to organize the exploration and development of oil and gas fields in the country. 100% of the company's capital belongs to the state.
Activity
CNPC's recoverable reserves amount to 1.65 billion tons of oil, 1.95 trillion cubic meters. m of gas. In 2005, CNPC produced 105.95 million tons of crude oil (an increase of 1.3% compared to the previous period) and 36.7 billion m³ of gas (an increase of 27.9%). The company's market share in China is 60% for crude oil, 73.4% for natural gas and 41% for petroleum products. The company's revenue in 2005 was $86 billion; profit - 178 billion yuan. Revenue in 2014 - $432.0 billion.
In 2004, the company began construction of an oil pipeline from the Middle East to the Xinjiang Uyghur Autonomous Region of China. In 2006, CNPC acquired a stake in the Kazakh company PetroKazakhstan, which is engaged in the production and processing of hydrocarbons in Kazakhstan, for $4.18 billion (this became the largest takeover of a foreign company by a Chinese company in history). In 2007, CNPC became the operator of the Turkmen project Bagtyyarlyk.
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Excerpt characterizing the China National Petroleum Corporation
One after another, pictures of the near past appeared to her - illness and last minutes father. And with sad joy she now dwelled on these images, driving away from herself with horror only one last image of his death, which - she felt - she was unable to contemplate even in her imagination at this quiet and mysterious hour of the night. And these pictures appeared to her with such clarity and with such detail that they seemed to her now like reality, now the past, now the future.
Then she vividly imagined that moment when he had a stroke and was dragged out of the garden in the Bald Mountains by the arms and he muttered something with an impotent tongue, twitched his gray eyebrows and looked at her restlessly and timidly.
“Even then he wanted to tell me what he told me on the day of his death,” she thought. “He always meant what he told me.” And so she remembered in all its details that night in Bald Mountains on the eve of the blow that happened to him, when Princess Marya, sensing trouble, remained with him against his will. She did not sleep and at night she tiptoed downstairs and, going up to the door to the flower shop where her father spent the night that night, listened to his voice. He said something to Tikhon in an exhausted, tired voice. He obviously wanted to talk. “And why didn’t he call me? Why didn’t he allow me to be here in Tikhon’s place? - Princess Marya thought then and now. “He will never tell anyone now everything that was in his soul.” This moment will never return for him and for me, when he would say everything he wanted to say, and I, and not Tikhon, would listen and understand him. Why didn’t I enter the room then? - she thought. “Maybe he would have told me then what he said on the day of his death.” Even then, in a conversation with Tikhon, he asked about me twice. He wanted to see me, but I stood here, outside the door. He was sad, it was hard to talk with Tikhon, who did not understand him. I remember how he spoke to him about Lisa, as if she were alive - he forgot that she died, and Tikhon reminded him that she was no longer there, and he shouted: “Fool.” It was hard for him. I heard from behind the door how he lay down on the bed, groaning, and shouted loudly: “My God! Why didn’t I get up then?” What would he do to me? What would I have to lose? And maybe then he would have been consoled, he would have said this word to me.” And Princess Marya said out loud the kind word that he said to her on the day of his death. “Darling! - Princess Marya repeated this word and began to sob with tears that relieved her soul. She now saw his face in front of her. And not the face that she had known since she could remember, and which she had always seen from afar; and that face is timid and weak, which on the last day, bending down to his mouth to hear what he said, she examined up close for the first time with all its wrinkles and details.
“Darling,” she repeated.
“What was he thinking when he said that word? What is he thinking now? - suddenly a question came to her, and in response to this she saw him in front of her with the same expression on his face that he had in the coffin, on his face tied with a white scarf. And the horror that gripped her when she touched him and became convinced that it was not only not him, but something mysterious and repulsive, gripped her now. She wanted to think about other things, wanted to pray, but could do nothing. She looked with large open eyes at the moonlight and shadows, every second she expected to see his dead face and felt that the silence that stood over the house and in the house shackled her.Turnover: $165.49 billion
Net profit: $10.27 billion
Assets: $325.384 billion
Number of employees: 1,649,992 people
China National Petroleum Corporation (CNPC)(simplified Chinese: 中国石油天然气集团公司; traditional Chinese: 中国石油天然气集团公司, pinyin: Zhongguo Shíyóu Tiānránqì Jítuán Gō ngsī) State Fuel Corporation, the largest operator of oil and gas companies in the PRC. Headquarters in Beijing. CNPC, the parent of PetroChina, ranks second in the world's value rankings market capitalization as of June 2010.Activity
CNPC is the state-owned parent company of listed PetroChina, the company established on November 5, 1999 as part of the restructuring of CNPC. In the restructuring, CNPC is bringing into PetroChina the majority of the assets and liabilities associated with CNPC's exploration and production, refining and marketing, chemicals and natural gas activities. CNPC and PetroChina have overseas assets through joint ventures, CNPC is 50% owned by PetroChina. CNPC can be traced back to its beginnings as a government department of the PRC government. In 1949, the Chinese government formed the Fuel Industry Ministry dedicated to fuel management. In January 1952, the Fuel Ministry was created to manage the country's oil exploration and production, called the General Petroleum Administration Bureau. In July 1955, a new ministry emerged to replace the Ministry of Industry, it was called the Ministry of Oil. From 1955 to 1969, about 4 oil fields were discovered in 4 areas in Qinghai, Heilongjiang, Bohai Bay and Songliao Basin. CNPC was eventually created on September 17, 1988, when the government decided to disband the Ministry of Petroleum and created a state-owned company to handle all oil activities in China. 1993 marks the start of CNPC's international operations. CNPC has signed a service contract with the Peruvian government to manage the Talara field. This was followed by an oil contract with the Government of Sudan to manage Blocks 1/2/4 Muglad fields. Then in June 1997 the company bought a 60.3% stake in the Aktobe Kazakhstan oil company, and the following month CNPC won a contract to produce oil from the Intercampo and East Caracoles fields in Venezuela. Subsequently, in July 1998, the company was restructured by the government in accordance with the upstream and downstream principle of the oil industry. In August 2005, it was announced that CNPC had agreed to buy Alberta, the headquarters of PetroKazakhstan, for $4.18 billion. This will be the biggest overseas purchase Chinese company. The acquisition was successfully implemented on October 26, 2005 after a Canadian court rejected LUKoil's attempt to block the sale. . In 2006, 67% of the shares were sold from parent company PetroChina. On November 5, 2007, HK CNPC's subsidiary PetroChina was also listed as a stake in the Shanghai Stock Exchange.
Chairman of the Board of Directors of the Chinese oil and gas corporation China National Petroleum Corporation (CNPC), Wang Yilin, spoke about the prospects of his company’s joint projects with Russia in a long interview with the Rossiya-24 TV channel.
“The Power of Siberia” will begin to close in June
Next month, CNPC, together with Gazprom, will begin construction of the border part of the Power of Siberia gas pipeline. By the end of 2016, China plans to build 30 to 80 kilometers of the highway on its territory, Wang Yilin said.
“both in Russia and in China. According to our schedule, the parties will begin construction of the border zone in June of this year. It's about about the underwater crossing of the Amur River. As for the gas pipeline section in China, this year we plan to complete the construction of 30 to 80 kilometers of gas pipeline,” Wang said.
The construction of the Power of Siberia gas transmission system is underway in accordance with the contract for the export of Russian gas to China, concluded in May 2014 by Gazprom and CNPC. The first gas supplies are planned for 2018. Bandwidth“Power of Siberia” will reach 38 billion cubic meters per year after 2031. The total length of the gas pipeline will be about 4 thousand kilometers.
CNPC wants to become a strategic partner of Rosneft
CNPC is also interested in increasing its share in Rosneft’s share capital through the upcoming... However, in this case, the Chinese state corporation would like to receive the right to participate in management. The head of CNPC recalled that the company already owns a small stake in Rosneft, which was acquired in 2006 as part of an IPO.
“The package is relatively small. At the same time, when a proposal from Rosneft for the privatization of shares is formed, we will consider it in detail, since the partnership with Rosneft is of a strategic nature,” said Wang Yilin. – On our part there is interest, and we will study the possibility of studying the share of the shareholder presence in Rosneft. If our share increases, we would like to receive the right to participate in the management of the company in full accordance with the acquired package. We expect that the format of participation and the scope of powers will be reflected in Rosneft’s proposal.”
Let us recall that the head of the Russian Ministry of Finance, Anton Siluanov, announced last week that the privatization of a 19.5% stake in Rosneft is envisaged in the second half of 2016. White&Case has already been selected as a legal consultant for this transaction. The state, through Rosneftegaz, owns 69.5% of the shares of the state-owned company.
Working conditions on the Russian shelf are unattractive
At the same time, CNPC continues negotiations with Rosneft and Gazprom Neft regarding participation in projects for the development of fields on the Russian shelf. However, according to Wang Yilin, the proposed Russian companies the conditions are too risky for a foreign investor. Therefore, the Chinese company is in no hurry to enter into specific offshore projects.
China National Petroleum Corporation (CNPC)
Chinese national oil company (CNPC) is a Chinese state-owned oil company.
In 1988, the State Council dissolved China's Ministry of Petroleum Industry and transformed it into the National Petroleum Corporation (CNPC).
Organization management:
Management:
Jiang Jiemin- The president
Zhou Jiping- vice president
Duan Wende- vice president
Wang Yilin- vice president
Zeng Yukang- vice president
Wang Fucheng- vice president
Li Xinhua- vice president
Liao Yongyuan- vice president
Wang Guoliang- head of financial department
Chen Ming Chief- head of the supervisory department
Xu Wenrong- President `s assistant
Wang Dongjin- President `s assistantKey financial indicators:
Revenue for 2006 was 893.6 billion yuan, net profit was 105.8 billion yuan.About the organization:
Oil production: 2.69 million barrels of crude oil per day.
Gas production: 4.6 billion cubic feet/day.
Oil reserves: 2.69 billion tons.
Gas reserves: 2215.9 billion cubic meters.
Oil and gas production in China accounts for 58% and 75.5% of the total, respectively.
In addition to China, CNPC has projects in Azerbaijan, Peru, Venezuela, Oman, Sudan, Turkmenistan, etc. In 1999, PetroChina was spun off as part of CNPC. In 2004, the company began construction of an oil pipeline from the Middle East to Xinjiang Uygur autonomous region China. In 2006, CNPC acquired the Canadian company PetroKazakhstan, which produces hydrocarbons in Kazakhstan, for $4.18 billion (this became the largest takeover of a foreign company by a Chinese company in history).
In 2005, CNPC produced 105.95 million tons of crude oil (an increase of 1.3% compared to the previous period) and 36.7 billion cubic meters of gas (an increase of 27.9%) from year to year.
The company's market share in China is 60% for crude oil, 73.4% for natural gas and 41% for petroleum products.Contacts:
Address: 6, Liupukang Street, Xicheng Dist., Beijing, P.R. China, 100724
Phone: 86 10 6209 4114
Fax: 86 10 6209 5148
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