PetroChina, established in 1999, is also a leading Chinese oil and gas company that is headquartered in Beijing.
It is the listed arm of the state-owned group named China National Petroleum Corporation – CNPC. The company has over 534,652 employees as of 2015, and the group is the largest in terms of oil & gas production and sales in China thereby holding a lead position in the oil & gas industry in China besides being one of the biggest oil companies in the world for decades.
Petro China holds principal engagement in the activities as follows: production, exploration, refining, marketing, trading, transmission and sales of natural gas, crude oil and other chemical products. It is listed in Hong Kong, Shanghai, and New York stock markets.
Petro China generated a revenue of $262.76 billion and a profit of $6.39 billion in the financial year ending 2015. Besides being a part of the duopoly with Sinopec in the oil products business it is one of those profitable companies in Asia which has a strong establishment in the industry through efficient corporate management over years.
This year, the company has implemented its new measures by adhering to its principle of steady development with focus on quality by decreasing costs and broadening revenue sources to improve overall profitability in addition to maintaining safety, control and stability of its production operations in the first quarter, amidst a slow environment in the international oil market.