TOPIC

/ company

PetroChina

PetroChina Company Ltd is the listed arm of state-owned China National Petroleum Corporation (CNPC). It is China's biggest oil producer, and is listed in Hong Kong, New York, and Shanghai.

Chairman / President

Dai Houliang

CEO / Managing Director

Huang Yongzhang

CFO / Finance Director

Wang Hua

Industry

Oil and gas

Website

petrochina.com.cn

Headquarters address

9 Dongsanhuan North Road, Chaoyang District, Beijing 100007, China

Stock Code

SEHK:0857
SSE:601857
NYSE:PTR

Year founded

1999

last updated:

16 October, 2024

A PetroChina EV charging station stands next to a petrol station in Beijing on February 2, 2024. Photo: Reuters

Automotive industry

China’s EV boom threatens to push petrol demand off a cliff

Brokerage Citic Futures sees Chinese gasoline consumption dropping by 4 to 5 per cent a year through 2030.

28 Nov 2024 - 12:47PM

Energy

PetroChina to downsize, shut its biggest refinery in northern China

28 Oct 2024 - 12:50PM

Climate change

Opinion | For China, choosing green hydrogen over shale gas should be a no-brainer

27 Oct 2024 - 4:30PM

Energy

PetroChina invests US$839 million to shift towards green energy

The acquisition of CNPC’s Electric Energy will further help leverage the synergy between its renewable energy and power segments, PetroChina’s president said.

29 Aug 2024 - 11:50AM

An ethylene plant under construction by PetroChina Jilin Petrochemical Company in Jilin City in northeast China’s Jilin Province on August 10, 2024. Photo: Xinhua.

Business of climate change

PetroChina joins world’s top producers in industry vow to reach net zero by 2050

China’s largest oil and gas producer has joined the Oil & Gas Decarbonisation Charter, a pledge signed by more than 50 firms to reach net zero by 2050.

23 Jul 2024 - 7:08PM

Commodities

China’s oil refiners are slowing down after decades of growth

A prolonged property crisis has weighed on China’s economy this year, while the steady uptake of new-energy vehicles and trucks powered by gas are flashing bearish signs for future oil demand.

14 Jun 2024 - 11:45AM

Singapore

Singapore to offer carbon tax rebates up to 76% for refiners, petro firms: sources

This hefty increase in carbon taxes has been a hot topic in Singapore’s refining sector, following the sale of Shell’s flagship Bukom and Jurong Island refinery and petrochemical facilities amid stiff competition.

14 Jun 2024 - 6:00AM

Steam rises from the coal-fired power plant. Singapore is offering refiners and petrochemical companies rebates to help ease costs and remain competitive. Photo: AP/File

Business of climate change

PetroChina: rapid EV uptake means oil use for transport to peak next year

Oil consumption in China’s transport sector will peak next year ‘at the latest’ as rapid adoption of electric vehicles (EVs) pulls the plug on petrol consumption, according to the nation’s largest oil and gas producer.

25 Apr 2024 - 6:30PMvideocam

Huawei

Huawei founder talks digital transformation, tech innovation with PetroChina head

The meeting underscores Huawei’s long-standing ties with PetroChina in projects that have helped modernise its operations in the energy industry.

30 Mar 2024 - 2:49PM

Business of climate change

PetroChina claims progress on emissions, low-carbon energy goals

The nation’s largest oil and gas producer says it is on track to peak carbon emissions next year and double the contribution of low-carbon energy to its output capacity over two years, top leaders say.

27 Mar 2024 - 9:00PM

A sign at a PetroChina station is seen in Hong Kong on March 21, 2024. Photo: Bloomberg

US-China relations

China’s demand for LNG imports may double over next decade: Cheniere Energy

‘Everything is in place and heading towards a 130-to-140 million-tonnes market’ after 2023 import volume rose 12.6 per cent, says senior company official.

24 Jan 2024 - 4:34AM

Cheniere Energy’s liquefaction facility in Corpus Christi, Texas, is under construction. Photo: Bloomberg.

Business of climate change

Greenpeace accuses Chinese oil and gas firms of ‘greenwashing’ LNG purchases

Big oil and gas companies in China and elsewhere are using low-quality carbon offsets to ‘greenwash’ their imports of natural gas while failing to make strong emissions cutting commitments, Greenpeace says.

27 Nov 2023 - 11:29AMvideocam

Business of climate change

Chinese state oil companies falling short on climate pledges: Carbon Tracker

Sinopec, PetroChina and CNOOC have not fulfilled the minimum requirements to align with the Paris Agreement and continue ‘to put investors at risk’, according to the think tank.

10 Sep 2023 - 2:05PMvideocam

Science

China starts drilling another 10,000-metre well in search for natural gas

Exploration of the challenging Shendi Chuanke-1 Well in the Sichuan Basin is part of Deep Earth project.

21 Jul 2023 - 2:46PMvideocam

Drilling began at the site in Jiange county, Sichuan province, on Thursday. Photo: Xinhua

Commodities

Chinese oil giants’ clash in Middle East oil market puzzles traders

The biggest opposing positions in Middle East crude trading in years by the trading units of PetroChina and Sinopec have transformed global cargo flows and puzzled oil traders globally.

27 Jun 2023 - 10:31AMvideocam

An oil pump in Bahrain’s Sakhir oilfield. Photo: AP Photo

Corruption in China

Former Bank of China chief Liu Liange facing corruption investigation

The 62-year-old was abruptly removed from his post as chairman and party chief at the leading state-owned lender in February.

1 Apr 2023 - 12:58AMvideocam

Business of climate change

PetroChina reports progress on green-energy development

China’s largest oil and gas producer says it is on track for non-fossil energy to account for 7 per cent of its total capacity in 2025. Greenhouse-gas emissions from its own operations rose slightly in 2022.

30 Mar 2023 - 8:30PMvideocam

Americas and the Caribbean

Ecuador reaches deal to restructure debt with Chinese banks

President Guillermo Lasso previously announced he sought to restructure debt and improve conditions of long-term oil sales contracts with Beijing.

20 Sep 2022 - 2:34PMvideocam

Ecuadorean President Guillermo Lasso has turned to multilateral organisations for financing to reactivate the pandemic-hit economy, and renegotiated a US$6.5 billion credit agreement with the IMF, which ends this year. Photo: Shutterstock Images

Business of climate change

PetroChina picks up renewable energy development pace, unveils record profit

PetroChina has adjusted its renewable energy development target higher after bagging approvals to install 5.36 gigawatts of wind and solar farms and 11.2 million square metres of geothermal projects.

25 Aug 2022 - 9:30PMvideocam

Hong Kong stock market

Alibaba, JD.com fuel best stock rally since April on fresh China stimulus

Hong Kong stocks surged by the most in four months after China unveiled new stimulus to shore up the economy. Fresh speculation on US delisting matters emerged, lifting tech firms.

25 Aug 2022 - 5:02PMvideocam

US-listed Chinese stocks

More Chinese state-owned firms will delist from US, analysts say

The voluntary delisting of five SOEs including Sinopec and PetroChina from the New York Stock Exchange could pave the way for further exits, according to analysts.

16 Aug 2022 - 8:47AMvideocam

The voluntary delisting of five SOEs from the New York Stock Exchange could pave the way for further exits, according to analysts. Photo: AP

Banking & finance

Chinese state-owned firms to delist from the US amid audit dispute

The companies cited low trading volumes, high costs and regulatory issues for their decision to voluntarily delist from the NYSE. Chinese regulator says it is normal for companies to list or delist from any market.

12 Aug 2022 - 11:55PMvideocam

Three leading Chinese state-owned companies are preparing to delist from the New York Stock Exchange. Photo: AP Photo

Energy

PetroChina’s first-half profit rises over 50 per cent on higher oil prices

China’s biggest oil company estimates net profit rose between 26.5 billion yuan (US$3.9 billion) and 32 billion yuan in the January to June period.

15 Jul 2022 - 7:42PMvideocam

China stock market

Hong Kong stocks slip as mass Covid-19 testing stirs China lockdown fears

New infections prompt mass screening in nine of Shanghai’s 16 districts, stoking lockdown fears. Recession concerns also undermine crude oil prices, hitting producers like CNOOC.

6 Jul 2022 - 4:46PMvideocam

Climate change

Chinese oil giant aims for half its output to be renewable by 2050

PetroChina, which reported its highest profit for seven years, will tap wind, solar and geothermal resources as it steps up efforts to help the country achieve net-zero emissions by 2060.

1 Apr 2022 - 6:43PMvideocam

PetroChina says it has has commissioned 39 low-carbon and carbon reduction projects. Photo: Reuters

Hong Kong stock market

Ukraine crisis: Chinese oil, mining groups are early stock market winners

Notwithstanding the unfortunate casualties, the Russia-Ukraine war is threatening to disrupt supply chains. Chinese oil and mining groups are some of the early stock market winners.

9 Mar 2022 - 12:42PMvideocam

Driverless vehicles move containers at a port in Qingdao in eastern Shandong province in January 2022. Photo: AP

China economy

Unit of China oil giant ‘cooperating’ with probe into ‘irregular trading’

Authorities say the subsidiary of PetroChina was involved in irregular reselling of crude totalling 179.5 million tonnes to 115 local refineries, ‘severely’ disrupting markets.

20 Jan 2022 - 6:11PMvideocam

US-China relations

‘Based on our own needs’: China to join global oil reserve release

China’s second release from its state oil reserves could again amount to around 7.38 million barrels following a 50 million barrel commitment from US President Joe Biden.

26 Nov 2021 - 10:38AMvideocam

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