About China Petro Limited
China Petro Limited is the largest oil and gas producer and distributor, playing a dominant role in the oil and gas industry in China. It is not only one of the companies with the biggest sales revenue in China, but also one of the largest oil companies in the world. China Petro was established as a joint stock company with limited liabilities by China National Petroleum Corporation under the Company Law and the Special Regulations on the Overseas Offering and Listing of Shares by Joint Stock Limited Companies on November 5th, 1999. The American Depositary Shares (ADS) and H shares of PetroChina were listed on the New York Stock Exchange on April 6, 2000 (stock code: PTR) and the Stock Exchange of Hong Kong Limited on April 7, 2000 (stock code: 857) respectively. It was listed on Shanghai Stock Exchange on November 5, 2007 (stock code: 601857).
Since the foundation, China Petro Limited has established and improved standard corporate governance structure, in accordance with the applicable laws and regulations including the Company Law and the Mandatory Provisions for the Articles of Association of Companies to be Listed Overseas and the Articles of Association. The shareholders’ meeting, the Board of Directors and the Supervisory Committee of the Company can operate independently and effectively in accordance with the Articles of Association.
China Petro Limited commits itself to becoming an international energy company with strong competitiveness and one of the major producers and distributors of petroleum and petrochemical products in the world. It engages in wide range of activities related to oil and natural gas, including: exploration, development, production and marketing of crude oil and natural gas; refining, transportation, storage and marketing of crude oil and oil products; the production and marketing of primary petrochemical products, derivative chemicals and other chemicals; transportation of natural gas, crude oil and refined oil, and marketing of natural gas.
China Petro Limited, under the guidance of the concept of scientific development, is dedicated to implementing three strategies of resources, markets and internationalization. China Petro Limited is committed to accelerating the transformation of economic growth, improving the self-innovation capacity, establishing long-efficient mechanism of safety, environmental protection and energy conservation and creating a harmonious enterprise, in order to transform itself to an international energy company with strong competitiveness.
China National Petroleum Corporation (CNPC) is the sole sponsor and controlling shareholder of PetroChina. It is a large petroleum and petrochemical corporate group, established in July 1998, in accordance with Plan for the Organizations Structure Reform of the State Council. CNPC is a large state-owned enterprise managed by the investment organs authorized by the state and State-owned Assets Supervision and Administration Commission.
China Petro Limited is the nation’s largest petrochemical producer, distributor and transporter. Both a developer and marketer of crude oil and natural gas, they are also a leader in the chemical and petro-derivatives industries. The company went public on the NYSE in 2000, and has since racked up assets of nearly $387 billion.